#CreatorPad This SUI/USDT (1M timeframe) chart is showing signs of a potential bearish double top pattern forming near the $5.3–$5.6 resistance zone.
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📉 Chart Pattern: Double Top (Bearish Reversal Signal)
Tops: Around $5.3699 and recent resistance around $5.5778
Neckline support: Near $2.90–$3.00 range
Volume drop + RSI near 61 indicates weakening bullish strength
Monthly candle rejection near the upper Bollinger Band and failing to break above $5.6
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📌 Trade Setup
🔻 Short Entry (if price fails again at $5.5–$5.6):
Entry: $5.30–$5.50 (after rejection confirmed)
Stop-loss: Above $5.70 (breakout invalidates the pattern)
Targets:
TP1: $3.60 (current price)
TP2: $3.00 (neckline support)
TP3: $2.30 (Bollinger mid-band)
TP4 (max): $1.03 or $0.44 (previous demand)
📈 Long Entry (only if breakout succeeds):
Entry: Above $5.70 (monthly candle closes strong)
Stop-loss: Below $5.20
Targets: $6.20, $7.50+
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✅ Confirmation Needed Before Entry:
Weekly/Daily bearish rejection candle at resistance zone
RSI turning down from 60+ levels
MACD crossover (if shown)
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📉 Chart Pattern: Double Top (Bearish Reversal Signal)
Tops: Around $5.3699 and recent resistance around $5.5778
Neckline support: Near $2.90–$3.00 range
Volume drop + RSI near 61 indicates weakening bullish strength
Monthly candle rejection near the upper Bollinger Band and failing to break above $5.6
---
📌 Trade Setup
🔻 Short Entry (if price fails again at $5.5–$5.6):
Entry: $5.30–$5.50 (after rejection confirmed)
Stop-loss: Above $5.70 (breakout invalidates the pattern)
Targets:
TP1: $3.60 (current price)
TP2: $3.00 (neckline support)
TP3: $2.30 (Bollinger mid-band)
TP4 (max): $1.03 or $0.44 (previous demand)
📈 Long Entry (only if breakout succeeds):
Entry: Above $5.70 (monthly candle closes strong)
Stop-loss: Below $5.20
Targets: $6.20, $7.50+
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✅ Confirmation Needed Before Entry:
Weekly/Daily bearish rejection candle at resistance zone
RSI turning down from 60+ levels
MACD crossover (if shown)