ACH/USDT H-1 – Bearish Reversal Setup & Trade Plan
ACH/USDT) is currently showing signs of a potential bearish reversal after forming a double top near the resistance zone. Additionally, the RSI divergence suggests weakening bullish momentum, increasing the probability of a downward move.
Trade Setup:
📌 Entry Price: 0.03367 (Below neckline support)
📌 Stop Loss: 0.03753 (Above resistance to avoid stop hunts)
📌 Take Profit 1: 0.02981
📌 Take Profit 2: 0.02589
Technical Outlook:
🔹 Double Top Formation: A clear bearish pattern, signaling a potential trend reversal.
🔹 RSI Divergence: Momentum is weakening, suggesting a shift from buyers to sellers.
🔹 Breakdown Potential: If the price breaks below the neckline, further downside movement is expected.
📊 Strategy:
Traders should watch for a confirmed breakdown below the neckline before entering short positions. If rejection occurs and the price moves back above resistance, reconsideration may be needed.
💡 Trade Wisely & Manage Risk Effectively! 🚀
Trade Setup:
📌 Entry Price: 0.03367 (Below neckline support)
📌 Stop Loss: 0.03753 (Above resistance to avoid stop hunts)
📌 Take Profit 1: 0.02981
📌 Take Profit 2: 0.02589
Technical Outlook:
🔹 Double Top Formation: A clear bearish pattern, signaling a potential trend reversal.
🔹 RSI Divergence: Momentum is weakening, suggesting a shift from buyers to sellers.
🔹 Breakdown Potential: If the price breaks below the neckline, further downside movement is expected.
📊 Strategy:
Traders should watch for a confirmed breakdown below the neckline before entering short positions. If rejection occurs and the price moves back above resistance, reconsideration may be needed.
💡 Trade Wisely & Manage Risk Effectively! 🚀
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.