🔥 FIL/USDT – Approaching Key Short Zone
FIL is currently consolidating within a tightening wedge structure, showing signs of bearish indecision as price grapples with a well-defined short zone. Price action has moved aggressively from local lows and is now testing multi-level resistance areas.
🟣 Zone to Watch:
“Possible Short Zone” highlighted in purple — this zone marks a high-probability entry area where sellers could step in.
📍 Entry Point:
🔴 Short Entry: 2.654 – Near the lower end of the resistance window.
📉 Momentum & Setup:
Chart Formation: The consolidation has created a rising/symmetrical wedge, indicative of a bearish retest scenario.
Volume Consideration: Look for a spike in volume accompanying a bearish reversal near the upper band of the zone.
🟢 Take-Profit Zones:
✅ TP1: 2.518
✅ TP2: 2.333
✅ TP3: 2.125
✅ TP4: 1.848 (Final zone)
❌ Invalidation Level: 2.90+
(A strong close above this level would signal a potential trend reversal and invalidate the bearish setup.)
🧠 Narrative:
This setup is a textbook example of a bearish retest where support converts to resistance. The rapid price climb has likely exhausted buyers, setting the stage for sellers to capitalize on the multi-level resistance. Smart money appears poised to offload positions at these levels before further downside expansion, potentially triggering a liquidity grab.
🎲 Market Context:
Keep an eye on overall crypto market sentiment.
📌 Risk Management:
As always, manage your position sizes and money management carefully. Consider setting a stop-loss just above the invalidation level (around 2.90) to protect against unexpected moves.
FIL is currently consolidating within a tightening wedge structure, showing signs of bearish indecision as price grapples with a well-defined short zone. Price action has moved aggressively from local lows and is now testing multi-level resistance areas.
🟣 Zone to Watch:
“Possible Short Zone” highlighted in purple — this zone marks a high-probability entry area where sellers could step in.
📍 Entry Point:
🔴 Short Entry: 2.654 – Near the lower end of the resistance window.
📉 Momentum & Setup:
Chart Formation: The consolidation has created a rising/symmetrical wedge, indicative of a bearish retest scenario.
Volume Consideration: Look for a spike in volume accompanying a bearish reversal near the upper band of the zone.
🟢 Take-Profit Zones:
✅ TP1: 2.518
✅ TP2: 2.333
✅ TP3: 2.125
✅ TP4: 1.848 (Final zone)
❌ Invalidation Level: 2.90+
(A strong close above this level would signal a potential trend reversal and invalidate the bearish setup.)
🧠 Narrative:
This setup is a textbook example of a bearish retest where support converts to resistance. The rapid price climb has likely exhausted buyers, setting the stage for sellers to capitalize on the multi-level resistance. Smart money appears poised to offload positions at these levels before further downside expansion, potentially triggering a liquidity grab.
🎲 Market Context:
Keep an eye on overall crypto market sentiment.
📌 Risk Management:
As always, manage your position sizes and money management carefully. Consider setting a stop-loss just above the invalidation level (around 2.90) to protect against unexpected moves.
Telegram: t.me/Crypto_Sheykh
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Telegram: t.me/Crypto_Sheykh
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.