Coin Name: $S
Position: Short
Entry Price: 0.6317
On the 4-hour chart of S, a rising wedge pattern is forming, which typically signals a potential bearish reversal. If the price faces rejection at the upper trendline, a move down toward the lower trendline for a retest is likely. The RSI is currently holding within the supply zone, indicating possible resistance, while the MACD shows weakening buying momentum. Considering these factors, my bias on S is cautiously bearish for the short term.
On the 4-hour timeframe of USDT.D, a Head and Shoulders pattern has formed and has already been broken. I expect a potential upside move as the chart may retest the neckline from above. Supporting this view, the RSI is currently in oversold territory, and the MACD is showing a decline in selling pressure. Based on these signals, a short-term upward move in USDT.D seems likely — which could signal weakness ahead for the broader crypto market.
On the weekly timeframe, there's significant liquidity resting below the current price levels. Since markets often move to capture liquidity, I anticipate that S may move lower to sweep this downside liquidity zone before making any meaningful reversal or continuation.
Leverage: 5X
Targets:
1st TP 0.5770
2nd TP 0.5600
3rd TP 0.5300
📌 Special Note:
⚠️ Use only 10% of your portfolio 💼 to manage risks effectively. Avoid high leverage 🚫 and proceed cautiously to mitigate potential losses 📉. Always prioritize risk management and use the DCA method ✅.
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