$S coin
SHORT
Price: .5236
(Enter on entry price)
On the 4-hour time frame, I can see Sonic has bounced back from the 0.786 Fibonacci retracement level. Now, Sonic is trying to form a bearish Head and Shoulders pattern. I am bearish on Sonic.
On the 24-hour time frame, there is a lot of liquidity present on the upside, but since Doge has already broken down, I expect it to start a downtrend soon.
There are two Money Flow Index (MFI) indicators I am watching. It looks like the MFI will pump slightly and then dump again from the blue trendline resistance. Overall, I am maintaining a bearish outlook on the market.
3x leverage isolated
Sl: .5700
Target:
1) .5100
2).4950
3).4850
4).4700
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