Price has spent a long time moving inside a horizontal accumulation range. Recently, the market attempted a breakout to the upside, but the move failed and quickly returned back inside the range — a classic fake breakout / deviation above resistance.
The failed breakout shifts the market structure toward weakness. As long as price stays below the upper boundary of the range, the main scenario remains bearish.
I expect continuation to the downside, with the next liquidity zones and potential targets located in the $0.055–$0.045 area.
A reclaim of the range high would invalidate the idea, but for now momentum favors sellers.
The failed breakout shifts the market structure toward weakness. As long as price stays below the upper boundary of the range, the main scenario remains bearish.
I expect continuation to the downside, with the next liquidity zones and potential targets located in the $0.055–$0.045 area.
A reclaim of the range high would invalidate the idea, but for now momentum favors sellers.
My telegram channel: t.me/blessing_cryptos
Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.
My telegram channel: t.me/blessing_cryptos
Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.