1. Double Top Formation (Resistance Level Identified)
The chart displays a clear double top structure at the 2,760–2,800 USDT level.
This level has acted as a strong supply zone (highlighted in red), where price previously reversed, indicating heavy selling interest.
Current price action has retested this resistance zone and shown signs of rejection.
2. Liquidity Sweeps & False Breakouts
On the left side of the chart, an aggressive downward wick (marked with a blue arrow) suggests a liquidity sweep below a key low before strong bullish momentum returned.
This type of price action indicates smart money involvement, designed to remove weak hands before pushing price higher.
3. Accumulation Phases (Sideways Consolidation)
Multiple accumulation ranges are highlighted with blue rectangles.
These ranges show horizontal consolidation, where price builds up energy before breakout.
The most recent breakout led to a vertical rally toward the resistance zone, signaling an end of the accumulation and a start of distribution.
4. Double Bottom Support Structure
Identified near the 2,480 level, marked by red circles.
This level has historically acted as demand/support, evidenced by multiple bounces from this price zone.
Now highlighted with a grey zone, it is projected to act as the next key support area.
5. Bearish Projection
A large black arrow suggests a forecasted bearish move from the current high (~2,800) back to the support zone (~2,480).
This aligns with the idea of a mean reversion or pullback after a strong bullish impulse.
---
Conclusion & Trade Idea:
🔻 Bias: Bearish (Short-term)
The chart presents a classic reversal pattern with a double top at a well-defined supply zone.
Entry could be considered after confirmation of rejection from this level.
🧠 Trade Plan Suggestion:
Entry: Short near 2,780–2,800 after bearish confirmation (e.g., bearish engulfing candle or break of structure).
Target: 2,480 (support zone).
Stop Loss: Above 2,820 (recent high).
Risk-Reward: Approximately 1:2.5 or better depending on execution.
The chart displays a clear double top structure at the 2,760–2,800 USDT level.
This level has acted as a strong supply zone (highlighted in red), where price previously reversed, indicating heavy selling interest.
Current price action has retested this resistance zone and shown signs of rejection.
2. Liquidity Sweeps & False Breakouts
On the left side of the chart, an aggressive downward wick (marked with a blue arrow) suggests a liquidity sweep below a key low before strong bullish momentum returned.
This type of price action indicates smart money involvement, designed to remove weak hands before pushing price higher.
3. Accumulation Phases (Sideways Consolidation)
Multiple accumulation ranges are highlighted with blue rectangles.
These ranges show horizontal consolidation, where price builds up energy before breakout.
The most recent breakout led to a vertical rally toward the resistance zone, signaling an end of the accumulation and a start of distribution.
4. Double Bottom Support Structure
Identified near the 2,480 level, marked by red circles.
This level has historically acted as demand/support, evidenced by multiple bounces from this price zone.
Now highlighted with a grey zone, it is projected to act as the next key support area.
5. Bearish Projection
A large black arrow suggests a forecasted bearish move from the current high (~2,800) back to the support zone (~2,480).
This aligns with the idea of a mean reversion or pullback after a strong bullish impulse.
---
Conclusion & Trade Idea:
🔻 Bias: Bearish (Short-term)
The chart presents a classic reversal pattern with a double top at a well-defined supply zone.
Entry could be considered after confirmation of rejection from this level.
🧠 Trade Plan Suggestion:
Entry: Short near 2,780–2,800 after bearish confirmation (e.g., bearish engulfing candle or break of structure).
Target: 2,480 (support zone).
Stop Loss: Above 2,820 (recent high).
Risk-Reward: Approximately 1:2.5 or better depending on execution.
Trade active
Trade closed: target reached
🎯 Target Achieved Successfully!✅ ETH/USDT Trade Update
Our anticipated target has been successfully hit as forecasted. After identifying key resistance and support zones, price reacted precisely from the supply zone and executed a clean drop into the demand area—marking a textbook move.
🔍 Pattern observed:
Double top formation near resistance
Clean bearish break from the supply zone
Bearish continuation into the highlighted demand zone
Market Analyst | Forex Mentor | XAUUSD Specialist
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• VIP Signals
• 1-on-1 Mentorship
• Professional Forex Course
• Affiliate Program
• Strategic Partnerships
Link to Join
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Related publications
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.
Market Analyst | Forex Mentor | XAUUSD Specialist
Services Offered:
• VIP Signals
• 1-on-1 Mentorship
• Professional Forex Course
• Affiliate Program
• Strategic Partnerships
Link to Join
t.me/ZareeFxTradingSignals
Services Offered:
• VIP Signals
• 1-on-1 Mentorship
• Professional Forex Course
• Affiliate Program
• Strategic Partnerships
Link to Join
t.me/ZareeFxTradingSignals
Related publications
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.