Price is consolidating after the recent pullback.
A false breakout to the downside has occurred which can often mean that there is Limit Order Book imbalance caused by there being less limit/resting orders on that side and therefore less liquidity. Price can therefore move faster if it revisits that level sweeping down to the next significant cluster of orders.
A false breakout to the downside has occurred which can often mean that there is Limit Order Book imbalance caused by there being less limit/resting orders on that side and therefore less liquidity. Price can therefore move faster if it revisits that level sweeping down to the next significant cluster of orders.