ALGO/USDT: Bearish Setup Incoming
🔥 The Bears Are Tightening Their Grip! 🔥
The retracement bounce was a trap, and Fibonacci levels are now acting as solid walls of resistance! 📉 Price tried to reclaim lost ground but got smacked down hard, reinforcing the short bias. The rejection at key levels signals that the sellers are in control—is the next leg down about to begin? 🚨
👀 Will the bears take over, or will the bulls break free? Let’s dive into the setup! 📉👇
🔻 Entry:
Break & retest of 0.2809(Conservative).
Aggressive entry at current levels if volume increases.
🚨 Stop-Loss (SL):
Above 0.2850 - 0.2880, avoiding short squeezes.
🎯 Take-Profit (TP) Targets:
TP1: 0.2496 (Major support level).
TP2: 0.2438 (Stronger demand zone).
📊 Risk-Reward Ratio (RRR):
Aiming for 2:1 or 3:1 RRR for an optimal trade.
🔍 Final Thoughts:
✅ Rising wedge is breaking down – a classic bearish signal.
✅ EMA 55 acting as resistance strengthens the short case.
✅ MACD & RSI show declining momentum, but confirmation is needed.
🚨 Invalidation: If price reclaims 0.2880+, the short setup is invalid.
⚡ Momentum traders—are you shorting this? Let’s discuss! 🔥👇
The retracement bounce was a trap, and Fibonacci levels are now acting as solid walls of resistance! 📉 Price tried to reclaim lost ground but got smacked down hard, reinforcing the short bias. The rejection at key levels signals that the sellers are in control—is the next leg down about to begin? 🚨
👀 Will the bears take over, or will the bulls break free? Let’s dive into the setup! 📉👇
🔻 Entry:
Break & retest of 0.2809(Conservative).
Aggressive entry at current levels if volume increases.
🚨 Stop-Loss (SL):
Above 0.2850 - 0.2880, avoiding short squeezes.
🎯 Take-Profit (TP) Targets:
TP1: 0.2496 (Major support level).
TP2: 0.2438 (Stronger demand zone).
📊 Risk-Reward Ratio (RRR):
Aiming for 2:1 or 3:1 RRR for an optimal trade.
🔍 Final Thoughts:
✅ Rising wedge is breaking down – a classic bearish signal.
✅ EMA 55 acting as resistance strengthens the short case.
✅ MACD & RSI show declining momentum, but confirmation is needed.
🚨 Invalidation: If price reclaims 0.2880+, the short setup is invalid.
⚡ Momentum traders—are you shorting this? Let’s discuss! 🔥👇
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.