$CRV - SHORT Setup
Entry: 0.381 – 0.384 (On rejection from this supply zone)
Target 1:0.372
Target 2:0.366
Stop Loss:0.388 (Above the 24h high)
My View:
CRV is trading within a clear bearish structure,having been rejected from higher levels and now retracing into a defined resistance area. This zone is capped by the 24h high (0.385) and aligns with a previous support level that has turned into resistance. The order book shows a dominant Ask volume (57.09%), indicating significant selling pressure stacked above the current price. Price action shows a clear breakdown, and the current bounce is shallow and lacks momentum, suggesting it is a corrective move within the larger downtrend. The plan is to enter a short position on a confirmed rejection from the defined supply zone, anticipating a continuation of the downtrend towards the 24h low and potentially lower support levels.
Bias: Bearish below 0.384. A break and hold above 0.388 would challenge the immediate bearish outlook.
Disclaimer:My plan. Not advice. Trade your own risk.
