Price has been trading in a clear horizontal range for an extended period, with well-defined support and resistance. Recently, the market made a strong deviation above the range high, which was quickly rejected — a classic liquidity grab / false breakout.
After the upper deviation failed, price returned back into the range, indicating weak bullish continuation and increasing probability of a range breakdown to the downside.
📌 Key points:
🎯 Targets:
Target 1: $0.007
Target 2: $0.005
❌ Invalidation:
Acceptance back above the range high would invalidate the bearish scenario
This setup favors short positions after confirmation of weakness near range resistance.
After the upper deviation failed, price returned back into the range, indicating weak bullish continuation and increasing probability of a range breakdown to the downside.
📌 Key points:
- Well-established consolidation range
- Upper deviation swept liquidity above resistance
- Rejection signals distribution and bearish continuation
🎯 Targets:
Target 1: $0.007
Target 2: $0.005
❌ Invalidation:
Acceptance back above the range high would invalidate the bearish scenario
This setup favors short positions after confirmation of weakness near range resistance.
My telegram channel: t.me/blessing_cryptos
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.
My telegram channel: t.me/blessing_cryptos
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.