11p will be broken16 Jan 2026 09:36
This price action is still consistent with a post-breakout reset rather than a trend failure……
The move into 10.25–11 was a genuine expansion through a multi-month ceiling…… What we’re seeing now is a fast retrace into the prior breakout area, which is normal after such a vertical leg…… The pullback looks sharp on the intraday chart, but structurally it remains corrective…… Price has not meaningfully accepted back inside the old range……
The early selling today is typical after a liquidity grab above highs…… Spreads widen, late entries exit, and momentum cools…… There’s no evidence of sustained supply overwhelming demand, just short-term rebalancing…… Volume on the pullback looks reactive rather than impulsive……
As long as price continues to stabilise above the former resistance zone, the higher-timeframe structure stays bullish…… On that basis, I would expect a retest of the highs and a break through 11p, potentially early next week, once this consolidation phase has done its job……