Mar. 4 at 2:13 PM
$BIDU has rejected the
$160–
$165 supply zone after completing a five-wave advance, and price is now accelerating lower in what appears to be a C-wave decline following the failed (b) rally.
The break below the
$135 equilibrium area confirms a bearish change of character, and momentum indicators are rolling over sharply with the oscillator trending toward oversold territory.
Price is currently around
$118, approaching the
$108–
$110 demand zone / strong low, which is the next major structural support; if that level fails, downside could extend toward
$95–
$100.
For the bearish structure to invalidate, BIDU would need to reclaim
$135–
$140, otherwise the chart favors continued downside into the demand region before a potential larger base forms.
