Bias: Short (Bearish Pullback Continuation Under $3,320)
SELL SETUP
Entry:
Below $3,309 (break of minor local support and confirmation of bearish continuation)
Stop-Loss (SL):
$3,324 (above recent local high and structure resistance)
Take-Profit 1 (TP1):
$3,290 (early June low – first demand area)
Take-Profit 2 (TP2):
$3,270 (stronger support + 1.618 extension zone)
Technical Confluence
MACD:
Bearish crossover active
Histogram turning red again after a short relief push
RSI:
Hovering around 47, rejected from the neutral 50–55 zone
Still in a bearish regime under the midline
Price Action:
Lower highs and lower lows forming
Last bullish candle rejected near $3,320
Bearish momentum holding after brief retrace
Risk Rating: Medium
Structure is clean, but risk of chop increases if price holds above $3,310
Watch for reaction at $3,309 — potential fakeout zone
SELL SETUP
Entry:
Below $3,309 (break of minor local support and confirmation of bearish continuation)
Stop-Loss (SL):
$3,324 (above recent local high and structure resistance)
Take-Profit 1 (TP1):
$3,290 (early June low – first demand area)
Take-Profit 2 (TP2):
$3,270 (stronger support + 1.618 extension zone)
Technical Confluence
MACD:
Bearish crossover active
Histogram turning red again after a short relief push
RSI:
Hovering around 47, rejected from the neutral 50–55 zone
Still in a bearish regime under the midline
Price Action:
Lower highs and lower lows forming
Last bullish candle rejected near $3,320
Bearish momentum holding after brief retrace
Risk Rating: Medium
Structure is clean, but risk of chop increases if price holds above $3,310
Watch for reaction at $3,309 — potential fakeout zone
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.