📉 Last 5 Candles Breakdown – What Do They Tell Us?
1st Candle (Strong Bullish Breakout Candle) ✅
Large green candle closing well above previous resistance ($2,910).
Breakout confirmed with momentum.
No upper wick, meaning buyers controlled this move.
2nd Candle (Continuation Candle) ✅
Another bullish candle pushing above $2,920.
Slight wick forming, indicating minor selling pressure.
Still a valid continuation, suggesting a bullish move.
3rd Candle (Rejection at $2,921) ⚠️
Upper wick forming, meaning sellers are stepping in.
Buyers failed to push price higher, leading to increased selling pressure.
Warning sign of potential short-term rejection.
4th Candle (Bearish Reversal Signal) 🚨
Red candle rejecting $2,921 and closing near $2,920.
First sign of weakness after the breakout.
Sellers are absorbing buy orders at resistance.
5th Candle (Bearish Confirmation?) 🚨
Red candle with a longer wick, confirming resistance at $2,921.
Price failing to hold $2,920 as support.
Possible short-term pullback incoming.
📊 Breakout Confirmation Checklist:
✅ Price Broke Above $2,920 → Initial Breakout Confirmed
✅ Retest of $2,920 Happened → But Holding is Uncertain
⚠️ Two Consecutive Rejection Candles at $2,921 → Warning Sign
🚨 Bearish Reversal Candle at Resistance → Fakeout Possible
📈 Indicator Confirmation – Is This a Strong Buy Setup?
✔ Fibonacci Retracement:
38.2% Level at $2,910 (Possible Retest Zone)
50% Level at $2,920 (Currently Facing Rejection)
61.8% Level at $2,930 (Major Resistance Target)
✔ 50 EMA & 200 EMA (Trend Confirmation):
Price Above the 50 EMA → Bullish Bias Confirmed ✅
Golden Cross Confirmed → Expecting further upside if $2,920 holds.
✔ RSI (7) (Momentum Confirmation):
Currently at ~65 → Bullish, but nearing overbought levels.
If RSI drops below 60, a pullback is likely.
✔ VWAP (Institutional Price Level):
Price above VWAP → Institutions still supporting the move.
✔ MACD (Momentum Confirmation):
Bullish crossover happened → Uptrend continuation signal confirmed.
🔥 FINAL VERDICT – SHOULD YOU BUY NOW?
📌 NO – Wait for Confirmation Above $2,922 Before Entering.
📌 If Price Closes Below $2,920, Expect a Retest at $2,910 Before Another Move.
📌 If Buyers Hold Above $2,922 With Strong Volume, Enter Long Position.
🚀 Best Entry & Execution Plan
Entry (Breakout Confirmation): $2,922 - $2,923 (Only if price closes above resistance with volume)
Entry (Safer Option - Retest Trade): $2,910 - $2,912 (If rejection happens and we get a retest entry)
Stop-Loss: $2,899 (Below previous liquidity grab)
Take-Profit Targets:
TP1: $2,930 (Immediate breakout target)
TP2: $2,935 - $2,940 (Institutional resistance zone)
TP3: $2,950 (Full bullish extension target)
Risk-Reward Ratio: 3:1
Confidence Level: Moderate (Breakout Needs Final Confirmation Above $2,922)
⚠️ Important Notes:
📌 If Price Closes Below $2,920, Expect Another Rejection & Pullback to $2,910.
📌 If the Next Candle Closes Above $2,922, Expect a Quick Push to $2,930+.
📌 If You’re Aggressive, Enter Now With a Tight SL – If You Want Extra Safety, Wait for Volume Confirmation.
🚀 WAIT FOR FINAL CONFIRMATION – INSTITUTIONS ARE POSITIONING FOR A BIG MOVE! 💰🔥
1st Candle (Strong Bullish Breakout Candle) ✅
Large green candle closing well above previous resistance ($2,910).
Breakout confirmed with momentum.
No upper wick, meaning buyers controlled this move.
2nd Candle (Continuation Candle) ✅
Another bullish candle pushing above $2,920.
Slight wick forming, indicating minor selling pressure.
Still a valid continuation, suggesting a bullish move.
3rd Candle (Rejection at $2,921) ⚠️
Upper wick forming, meaning sellers are stepping in.
Buyers failed to push price higher, leading to increased selling pressure.
Warning sign of potential short-term rejection.
4th Candle (Bearish Reversal Signal) 🚨
Red candle rejecting $2,921 and closing near $2,920.
First sign of weakness after the breakout.
Sellers are absorbing buy orders at resistance.
5th Candle (Bearish Confirmation?) 🚨
Red candle with a longer wick, confirming resistance at $2,921.
Price failing to hold $2,920 as support.
Possible short-term pullback incoming.
📊 Breakout Confirmation Checklist:
✅ Price Broke Above $2,920 → Initial Breakout Confirmed
✅ Retest of $2,920 Happened → But Holding is Uncertain
⚠️ Two Consecutive Rejection Candles at $2,921 → Warning Sign
🚨 Bearish Reversal Candle at Resistance → Fakeout Possible
📈 Indicator Confirmation – Is This a Strong Buy Setup?
✔ Fibonacci Retracement:
38.2% Level at $2,910 (Possible Retest Zone)
50% Level at $2,920 (Currently Facing Rejection)
61.8% Level at $2,930 (Major Resistance Target)
✔ 50 EMA & 200 EMA (Trend Confirmation):
Price Above the 50 EMA → Bullish Bias Confirmed ✅
Golden Cross Confirmed → Expecting further upside if $2,920 holds.
✔ RSI (7) (Momentum Confirmation):
Currently at ~65 → Bullish, but nearing overbought levels.
If RSI drops below 60, a pullback is likely.
✔ VWAP (Institutional Price Level):
Price above VWAP → Institutions still supporting the move.
✔ MACD (Momentum Confirmation):
Bullish crossover happened → Uptrend continuation signal confirmed.
🔥 FINAL VERDICT – SHOULD YOU BUY NOW?
📌 NO – Wait for Confirmation Above $2,922 Before Entering.
📌 If Price Closes Below $2,920, Expect a Retest at $2,910 Before Another Move.
📌 If Buyers Hold Above $2,922 With Strong Volume, Enter Long Position.
🚀 Best Entry & Execution Plan
Entry (Breakout Confirmation): $2,922 - $2,923 (Only if price closes above resistance with volume)
Entry (Safer Option - Retest Trade): $2,910 - $2,912 (If rejection happens and we get a retest entry)
Stop-Loss: $2,899 (Below previous liquidity grab)
Take-Profit Targets:
TP1: $2,930 (Immediate breakout target)
TP2: $2,935 - $2,940 (Institutional resistance zone)
TP3: $2,950 (Full bullish extension target)
Risk-Reward Ratio: 3:1
Confidence Level: Moderate (Breakout Needs Final Confirmation Above $2,922)
⚠️ Important Notes:
📌 If Price Closes Below $2,920, Expect Another Rejection & Pullback to $2,910.
📌 If the Next Candle Closes Above $2,922, Expect a Quick Push to $2,930+.
📌 If You’re Aggressive, Enter Now With a Tight SL – If You Want Extra Safety, Wait for Volume Confirmation.
🚀 WAIT FOR FINAL CONFIRMATION – INSTITUTIONS ARE POSITIONING FOR A BIG MOVE! 💰🔥
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.