🚨 STOP! This chart is now telling a lot more than it seems at first glance.
The price is confidently holding above the key support after a local correction. Buyers continue to defend important levels, preventing a deep pullback.
The current structure remains positive for further development of the upward movement. A consolidation above the nearest resistance could strengthen the bullish momentum.
The price showed weakness near the key resistance level. The short entry was made with the expectation of a further decline. This rebound has advanced into a zone where seller protection may begin to strengthen.
💡 Instead of guessing the direction, it's better to look at the price reaction.
SHORT SETUP IS FORMING
The market is gradually coming under the full control of sellers. The current structure supports the downward movement. After the formation of a sellers' signal, a short position was opened. The development of a downward movement is expected.
WILL THIS MOVEMENT BE THE BEGINNING OF A NEW TREND?
The current consolidation looks healthy after the previous rally. Buyers are gradually increasing their presence in the market.💵
If the immediate resistance is broken, it could attract a new wave of interest. As long as the structure does not change, the advantage remains with the bullish scenario.
After a long rise, the market often starts to show signs of weakness. If the price cannot renew the high, and the volume on the rise decreases, this may indicate a decrease in buyer activity.
I am in no hurry to open SHORT. First, I wait for confirmation in the form of a support breakdown or an unsuccessful retest.
❓How do you determine the moment to look for a SHORT position?
A perfect entry at the right moment delivered an excellent result. The market confirmed the scenario with a strong continuation of the move. Another profitable trade closed successfully.
The asset is showing a classic "depletion after a crash" pattern - weekly selling volume is noticeably decreasing week by week.
This often precedes a long consolidation or reversal, but after such a deep drop (-75%), it usually takes a long time for market confidence to recover.
The trade looked promising from the very beginning. The price smoothly continued the trend movement without unnecessary noise. Profit was secured according to the plan.