TL;DR: This is a textbook Head & Shoulders pattern, but let’s be real—it also resembles something more… anatomical. Regardless of how you see it, the market structure is screaming impending breakdown as we gear up for a possible move toward $125-$130.
1️⃣ The Left Shoulder → Initial rally followed by a pullback, setting the first high.
2️⃣ The Head → A euphoric breakout attempt, swiftly rejected, forming the highest peak.
3️⃣ The Right Shoulder → A weak push upward, failing to reclaim the highs, signaling distribution.
💀 Neckline Break = Confirmation: Price is slicing through key levels, rejecting off moving averages, and forming lower highs.
📉 Target Zone:
Fibonacci extension and previous liquidity pools align around $125-$130, making this the next logical support zone.
📊 Additional Confluence:
🚨 Final Take:
If this setup plays out, the move down could be swift. While it may look like a "Dick-n-Balls" to the untrained eye, the market only cares about order flow, liquidity, and psychology—all of which suggest a bearish continuation.
Stay sharp, trade smart. 🔥💎
1️⃣ The Left Shoulder → Initial rally followed by a pullback, setting the first high.
2️⃣ The Head → A euphoric breakout attempt, swiftly rejected, forming the highest peak.
3️⃣ The Right Shoulder → A weak push upward, failing to reclaim the highs, signaling distribution.
💀 Neckline Break = Confirmation: Price is slicing through key levels, rejecting off moving averages, and forming lower highs.
📉 Target Zone:
Fibonacci extension and previous liquidity pools align around $125-$130, making this the next logical support zone.
📊 Additional Confluence:
- Volume Profile: Decreasing volume on right shoulder = buyers losing steam.
- EMA Rejection: Price struggling below key moving averages.
- Liquidity Grab: Stop hunts above the head indicate smart money distribution.
🚨 Final Take:
If this setup plays out, the move down could be swift. While it may look like a "Dick-n-Balls" to the untrained eye, the market only cares about order flow, liquidity, and psychology—all of which suggest a bearish continuation.
Stay sharp, trade smart. 🔥💎
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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.
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.