$M 📉 The Bearish Channel is Respected to Perfection! 🚀
Attention Traders! Technical analysis doesn’t lie, and price action is following the script we expected. Here are the key points we're seeing on the chart:
🔍 Situation Analysis
Descending Channel: The price has precisely validated the upper part of the channel and, after the rejection at 4.86, has initiated a controlled drop. 📉
Moving Average Break: Currently, the price is below the MA(7) and MA(25), confirming selling pressure in the short term (4h). ⚠️
RSI on the Decline: The RSI is hovering near 49 points, with enough room to continue dropping before entering oversold territory. 📉
✅ Profits in Motion
For those who went short at the high of the channel (around 4.50 - 4.80), congratulations! 🥳 You should already be in profit territory. 💸
Current Price: 4.22
Target to Watch: The lower support of the channel and the marked level of 2.84 (TP Market Entire) remain the primary targets. 🎯
💡 Tip: Don’t forget to secure profits by moving your Stop Loss to entry levels (Breakeven) or taking partials. The market rewards discipline! 🧠💎
#Trading #Crypto #TechnicalAnalysis #BinanceSquare #BearishChannel #Profit ✅
Attention Traders! Technical analysis doesn’t lie, and price action is following the script we expected. Here are the key points we're seeing on the chart:
🔍 Situation Analysis
Descending Channel: The price has precisely validated the upper part of the channel and, after the rejection at 4.86, has initiated a controlled drop. 📉
Moving Average Break: Currently, the price is below the MA(7) and MA(25), confirming selling pressure in the short term (4h). ⚠️
RSI on the Decline: The RSI is hovering near 49 points, with enough room to continue dropping before entering oversold territory. 📉
✅ Profits in Motion
For those who went short at the high of the channel (around 4.50 - 4.80), congratulations! 🥳 You should already be in profit territory. 💸
Current Price: 4.22
Target to Watch: The lower support of the channel and the marked level of 2.84 (TP Market Entire) remain the primary targets. 🎯
💡 Tip: Don’t forget to secure profits by moving your Stop Loss to entry levels (Breakeven) or taking partials. The market rewards discipline! 🧠💎
#Trading #Crypto #TechnicalAnalysis #BinanceSquare #BearishChannel #Profit ✅