đ $BZ (Brent Crude) Short Setup: Rejection at Resistance! đąïž
Market Update:
While the crypto market looks for direction, the TradFi sector on Binance is providing some clean technical plays. I'm looking at $BZ USDT (Brent Crude Oil) which just hit a wall at a major psychological level.
The Setup:
As you can see in the chart I've attached, price formed a clear local top near 104.00. We are seeing a "Lower High" rejection right now around the 102.25 mark, which aligns with the moving average pressure on the 4H timeframe.
âą Entry Zone: 102.00 (Current rejection zone)
âą Take Profit (TP): 100.00 (Major psychological support)
âą Stop Loss (SL): 104.00 (Previous swing high)
Risk/Reward: 1:1.5
The bearish momentum is picking up as the RSI starts to point down from overbought territory. If we break below 101.50, I expect a fast move toward the $100 level.
Trade directly from the app: Use the Price Widget below to set your Short position or follow the price action in real-time! đ±ïžđ