Seeing HYPE show clear signs of a downward continuation. On the H4 timeframe, the price has been consolidating but gradually losing momentum. After reacting at the MA zone, the candles formed a long upper wick, indicating strong selling pressure and rejection at higher levels. This sets the stage for potential downside targets as long as resistance remains.
Trading Setup – Short HYPE: Entry Range: 30 – 30.2 Stop Loss: 30.8 Targets: TP1: 29.3 TP2: 28.5 TP3: 27.2 The structure shows a clear rejection at resistance, and the gradual decrease in strength suggests sellers are gaining control. As long as the price does not reclaim the favorable area, there is a high probability that this bearish continuation will reach the targets.
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Seeing HYPE show clear signs of a downward continuation. On the H4 timeframe, the price has been consolidating but gradually losing momentum. After reacting at the MA zone, the candles formed a long upper wick, indicating strong selling pressure and rejection at higher levels. This sets the stage for potential downside targets as long as resistance remains.
Trading Setup – Short HYPE:
Entry Range: 30 – 30.2
Stop Loss: 30.8
Targets:
TP1: 29.3
TP2: 28.5
TP3: 27.2
The structure shows a clear rejection at resistance, and the gradual decrease in strength suggests sellers are gaining control. As long as the price does not reclaim the favorable area, there is a high probability that this bearish continuation will reach the targets.