Hello, traders. Quick look at the CFX/USDT 1-minute chart.

After the massive pump, the price is now consolidating with a clear bearish bias. We have a Bollinger Band Squeeze in play, which usually signals a big volatile move is coming soon.

Why Bearish?

* Price is trading below the Middle BB (now resistance at ~0.20961).

* MACD confirmed a bearish crossover.

* RSI is below 50, showing a lack of strength.

Potential Short Trade Plan

💡 Strategy: Short

* ENTRY: On a rejection from the Middle BB (~0.20961) or a breakdown of the current consolidation range.

* 🎯 TARGET (TP): ~0.20762 (Lower Bollinger Band).

* 🚨 STOP-LOSS (SL): ~0.21160 (Above the Upper Bollinger Band).

#CFXUSDT #CryptoTrading #TechnicalAnalysis #ShortSetup #BinanceSquare #DYOR