suiusdt short trade setup price is rejected from 2.1590 zone and making double top on 1 hr time frame a good time to sell know and manage your risk set stop loss above 2.15
*Bearish Candlestick Pattern The appearance of 3 consecutive bearish candles on the 1-day chart suggests a strong bearish trend. This pattern is often referred to as the "Three Black Crows" pattern.
Key Takeaways 1. Downward Momentum: The consecutive bearish candles indicate a strong downward momentum, with sellers dominating the market. 2. Support Break: The candles have broken below the support level of $1.30 and 1.23, which could lead to further declines. 3. Increased Selling Pressure: The increasing volume on the bearish candles suggests that selling pressure is building up.
Potential Targets Based on this analysis, potential targets for API3/USDT could be:
Caution While this analysis suggests a bearish trend, it's essential to consider the following:
1. Reversal Possibility: A bullish reversal could occur if buyers regain control. 2. Support Levels: The price may bounce back from support levels, such as $1.15 or $1.00.