$TURBO
/TetherUS - Short-Term Analysis
The chart currently displays a potential "Bearish Engulfing" candlestick pattern forming at a significant resistance level, indicating a strong rejection of higher prices. This pattern suggests a likely shift from bullish momentum to bearish pressure.
* Entry Level (Sell/Short): Consider entries around 0.003885 - 0.003953.
* Target Levels:
* T1: 0.003801
* T2: 0.003669
* T3: 0.003565 (if momentum continues)
* Stop Loss: Place stop-loss above the high of the bearish engulfing candle, ideally around 0.003980 - 0.004000 to mitigate risk.
Market Next Move: The formation of the bearish engulfing pattern strongly suggests a bearish continuation in the immediate term. We anticipate a retracement towards the support levels outlined.