Bearish Head and Shoulders Playing Out!

4 Feb

We're seeing a classic head and shoulders pattern forming on the 1H timeframe, signaling a potential continuation of the downtrend. The right shoulder is rejecting at key resistance, aligning with the Fibonacci 0.236 - 0.382 zone (19.23 - 19.28), adding confluence to the bearish outlook.

🔎 Indicators Confirm Bearish Momentum:
🔻 RSI Bearish Divergence & Rejection:

RSI is rejecting from the 50-55 zone, a typical resistance level in a downtrend.
No bullish strength yet, confirming potential weakness.
🔻 MACD Bearish Crossover:

The MACD line has crossed below the signal line, suggesting a momentum shift in favor of the bears.

The histogram is turning red, further confirming decreasing buying pressure.
Key Levels to Watch:

🚀 Bullish Breakout: Needs to reclaim 19.52+ for a reversal.

⚠️ Bearish Target: Break below 18.52 (0.5 Fib) opens the door to 17.76 (0.618 Fib) and possibly 16.67 (0.786 Fib).

A breakdown from the neckline could accelerate the move lower. 📉 Watch for volume confirmation!

Would you go short on this setup? Let me know your thoughts! 👇

#Crypto #Trading #HeadAndShoulders #RSI #MACD #TechnicalAnalysis

5 Feb

Dagangan ditutup: sasaran tercapai

📈 Trade Closed: +10% Profit! 🎯

The head and shoulders pattern played out perfectly, with price rejecting at the Fibonacci 0.236 - 0.382 zone (19.23 - 19.28) and breaking down as expected.

🔻 RSI confirmed weakness, rejecting from the 50-55 level.
🔻 MACD bearish crossover signaled momentum shift early.
🔻 Volume increased on the breakdown, adding confluence to the short trade.

✅ Closed the trade with a solid +10% profit! Looking for the next setup—will the downtrend continue, or are bulls ready to step in?

What’s your next move? 🚀📉

#Crypto #Trading #Profit #TechnicalAnalysis #HeadAndShoulders #RSI #MACD