$TRADOOR
The chart currently shows signs of bullish exhaustion after a strong rally within a rising wedge structure.
Key Points:
🔺 1. Rising Wedge Breakdown Risk
Price has been moving inside a rising wedge, a pattern that often signals a bearish reversal.
The latest push toward the upper boundary failed to make a clean breakout, suggesting weakening momentum.
🟧 2. Rectangle Supply Zone (Top Resistance)
Price is testing a major supply zone, marked by the orange rectangle.
Rejection wicks at this level indicate strong selling pressure.
The “Top 2” area aligns with previous resistance, reinforcing the bearish bias.
📉 3. BOS (Break of Structure) Signals
Multiple BOS points show volatility and liquidity grabs.
The sharp red candle inside the rectangle hints at a liquidity sweep, often preceding a drop.
📊 4. RSI Overbought
RSI near 62–70 suggests the asset is entering overbought territory, increasing the probability of a pullback.
🧭 5. EMAs as Downside Targets
Price is far above the 100 EMA (purple) and 200 EMA (blue).
A correction towards these EMAs is likely if bearish pressure increases.
Short Bias Summary
Entry Zone: Within or near the rectangle resistance.
Bearish Confirmation: Breakdown below wedge support.
Targets:
TP1: 4.08
TP2: 3.41
TP3: 2.81 (strong demand zone near 200 EMA)
Invalidation: Clean breakout above 5.55–5.60 resistance zone
Disclaimer: we do not hold any position in this coin.
This is purely technical analysis.
previous analysis
