Yello, Paradisers! Is HOOKUSDT gearing up for a major drop? The current structure suggests a strong probability for further downside as the price follows a triple three-wave pattern within a descending channel.
💎HOOKUSDT recently faced strong resistance from multiple confluences: 50 EMA rejection, Key resistance zone, Descending channel’s trendline, Formation of an "M" pattern. These factors increase the likelihood of a wave Z move downward. However, for confirmation, we need a clear breakdown of the support level with a candle close below it and high volume.
đź’ŽThe broader crypto market also leans bearish, but waiting for the actual breakdown will further strengthen our probability of a successful trade.
💎Invalidation? If the price bounces and closes candle above the resistance zone, the bearish outlook gets invalidated. In that case, it’s smarter to stay patient and wait for a stronger setup.
🎖 Discipline and patience are key, Paradisers! The market always rewards those who wait for the highest-probability trades. Stay sharp!
MyCryptoParadise
iFeel the success🌴
💎HOOKUSDT recently faced strong resistance from multiple confluences: 50 EMA rejection, Key resistance zone, Descending channel’s trendline, Formation of an "M" pattern. These factors increase the likelihood of a wave Z move downward. However, for confirmation, we need a clear breakdown of the support level with a candle close below it and high volume.
đź’ŽThe broader crypto market also leans bearish, but waiting for the actual breakdown will further strengthen our probability of a successful trade.
💎Invalidation? If the price bounces and closes candle above the resistance zone, the bearish outlook gets invalidated. In that case, it’s smarter to stay patient and wait for a stronger setup.
🎖 Discipline and patience are key, Paradisers! The market always rewards those who wait for the highest-probability trades. Stay sharp!
MyCryptoParadise
iFeel the success🌴
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đź«łSteal the edge - follow seasoned team of traders at mycryptoparadise.com (FREE)
✅🎖️Or go full throttle with PRO strategy + killer entry/exit signals - t.me/MCPsupportbot
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.
Want to trade like a PRO without the 15+ year learning curve?
đź«łSteal the edge - follow seasoned team of traders at mycryptoparadise.com (FREE)
✅🎖️Or go full throttle with PRO strategy + killer entry/exit signals - t.me/MCPsupportbot
đź«łSteal the edge - follow seasoned team of traders at mycryptoparadise.com (FREE)
✅🎖️Or go full throttle with PRO strategy + killer entry/exit signals - t.me/MCPsupportbot
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.