This coin just launched. Usually they pump and then sell off until they find a bottom. But that takes a while.
We just retested this huge 4h orderblock. Hard resistance should be the 2h breaker orderblock, but it looks like we're already reversing. On balance volume printing a hidden bearish divergence at resistance.
Liquidity is stored below each low on this run up. Will likely be taken out.
Our next objective is the marked 8-9$ area. A lot of confluence and liquidity void above. A bounce from there would make sense.
If you like my analysis, a like and/or follow is greatly appreciated. I will update trade status and execution in my TG.
Trade closed manually
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I'm not short anymore. Structure has changed. Read the comment below.
Hi, can you give an update on this now that we are inside of the 2hr breaker? Thank you!
Kelevra369
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@EIizabeth_, Well we don't see any bearish reaction at all. If we break out of this channel and break high = super bullish. -> then breaker is s/r flipped. Bearish confirmation, if we break below blue ob. Right now it's just observing. I'm already out of the short.