The chart on the 1-hour timeframe is flashing clear signals of a contracting rising
wedge. Price action has been grinding upward, forming higher highs, while simultaneously consolidating and losing momentum. It’s already retested the wedge support once, which adds weight to the probability of an imminent breakdown.
According to my analysis the structure looks primed for a sharp dump back to the
key support line.
The RSI is painting a clear story this coin is sitting in overbought territory, flashing
warning signals loud and clear. What’s even more telling is the divergence: while
the price action continues to push higher, the RSI is heading in the opposite
direction. Classic bearish divergence.
Signal Type : Short
Entry: 1.084
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1st Tp: 0.9921
2nd Tp: 0.9813
3rd Tp : 0.9705
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