Disliked{quote} Do you mean 13800 ATH on 20 Feb this year? Or the highs we had 1 month ago slight above 12900 zone?Ignored
I was looking at 12900 and thinking it was dangerously close to 13800. 1000 points feel like "nothing" these days. It could play in an erratic way.
See the daily. There are probably lots of trapped orders ~13K that could trigger a sell wall for exit at break-even orders (people trapped at the lows of the region).
OTOH, if the shorts are in pain, that could be the trigger for short-covering and then ATH would be a possibility.
We don't know how it will play out, but entering 13K would mean increase of volatility and possibly a hard to manage region for the market makers.
So, 12900 seems a safe bet for a double top and 12K could act as an intermediate support.
The graph below explains better.