The price has been consolidating since the last “Inverted Hammer” formed.
However, we’ve got a “High Wave” at the local low.
Considering confirmation of this pattern, the market is likely going to test the nearest resistance, which could be a departure point for another decline.
The last “Window” has been closed, so there’s a confirmed “High Wave”. In this case, the price is likely going to test the nearest support level, which could be a departure point for a local upward price movement.