RBLX – Major Higher Timeframe Support Test After Prolonged DowntRoblox CorporationBATS:RBLXBinMhusien On the Monthly and Weekly charts, #RBLX is approaching a major higher timeframe demand zone between 50–60, which previously acted as a strong accumulation base before the impulsive move higher. Price is currently in a deep corrective phase after a distribution top, with momentum clearly bearish, but now very extended into HTF support. Weekly Structure Insight Strong bearish structure from the highs Price trading well below the 20-period moving average However, distance from the MA suggests potential mean reversion near demand This makes the current zone a reaction area, not a confirmation area. Daily Timeframe Behavior On the Daily chart: Clear downtrend (lower highs & lower lows) Weak corrective bounces capped by the daily 20 MA Price approaching prior weekly base / demand No reversal yet — only location advantage. Trade Scenarios 🔹 Bullish Case (Reactive Play) Price holds above ~50–60 HTF demand Look for daily structure shift (higher low, bullish engulfing, or MA reclaim) Conservative traders wait for weekly confirmation 📈 Potential Upside: 80–85 (first reaction) 95–100 (daily supply / MA resistance) 🔹 Bearish Continuation Clean break and acceptance below 50 Confirms HTF demand failure → continuation toward deeper monthly lows Risk Perspective This is not a trend-following long. It’s a mean reversion / HTF demand reaction setup with strict risk management. Think of this zone like a trampoline: Either price bounces sharply, or it breaks and price accelerates lower.