Short Position FIL/USDT🔥 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.
