$GT is reacting after a sharp downside move, and I’m looking at this zone for a structured rebound.
The main reason I’m interested here is the aggressive selloff from the 9.4 area straight into 8.05. That move wasn’t slow or controlled, it was a liquidity-driven dump. Weak hands were forced out, stops were cleared, and only after that did price start to stabilize. That change in behavior is what I care about.
Right now, price is holding above the sweep low and printing higher lows. That tells me selling pressure has already done its job.
Market read
I’m reading this as a relief setup after liq