📢
$CVX / $USDT | 🔴 SHORT | ⭐ 80.3%
🎯 Target: $2.1549. Is it still falling?
🎯 Trading levels:
🟢 Entry: $2.237
🛑 Stop Loss: $2.2802
🏁 TP1: $2.1549
🏁 TP2: $2.1074
📉 Analysis:
The structure of
$CVX shows a confirmed bearish breakdown after completing a Head-and-Shoulders pattern, with selling volume 2.78x above average, validating bearish pressure. The ADX of 29.9 indicates a trend in development, while the bearish MACD crossover (momentum indicator) and an RSI of 35.68 (showing weakness in price) suggest a continuation of the move toward the VAL at $2.2205.
⚖️ Risk/Reward: 1:1.9
⏱️ Timeframe: 1H
📐 Technical confidence: 4/5
The bearish thesis is invalidated if the price rises above the stop loss level at $2.2802, which would nullify the current technical structure. It is essential to watch the price reaction when breaking the immediate support at $2.204, since a close below it would increase the probability of reaching the stated targets.
Do you think the current selling volume is enough to break through support at $2.204 in this session?
💡 This analysis is educational and is not financial advice. Do your own research and decide calmly.
#crypto #CVX #trading #Futures #Bearish