$BAND USDT Short (descending trendline rejection)
Price is ~0.2296 on the 15m chart, rejected at the LH (~0.2430) and now sitting right on the 0.2278 support level, under a falling trendline with red FVGs above acting as resistance. Below the support, the range extends down to ~0.2180.
Entry: 15m candle close below 0.2275 (breaks the support), or a rejection at 0.2330-0.2350 (trendline and FVG zone)
Stop loss: 0.2375 (above the trendline and the FVG cluster)
TP1: 0.2230
TP2: 0.2180 (range low)
TP3: 0.2100 (only if 0.2180 breaks with volume)
Notes:
Structure is bearish: a sequence of LHs and a trendline that has been respected on every bounce. But price is sitting on support, so wait for a confirmed close below it instead of shorting into the level. Support has been tested several times, so a bounce toward the trendline is also possible. A rejection there is a better risk/reward entry. Skip the short if a 15m candle closes above 0.2380; that breaks the trendline and the LH structure. Volume is low and flat, so only trust a breakdown that comes with a volume spike. The 15m timeframe is noisy. Risk 1% or less and keep leverage low (3-5x).
Not financial advice.
@Binance Square Official #BitcoinShortTermHoldersReach4.08MBTC #BitcoinRecoversTo$82K #OctoberFedHikeOddsFallToAround17% #Binance #ChartSniper
Price is ~0.2296 on the 15m chart, rejected at the LH (~0.2430) and now sitting right on the 0.2278 support level, under a falling trendline with red FVGs above acting as resistance. Below the support, the range extends down to ~0.2180.
Entry: 15m candle close below 0.2275 (breaks the support), or a rejection at 0.2330-0.2350 (trendline and FVG zone)
Stop loss: 0.2375 (above the trendline and the FVG cluster)
TP1: 0.2230
TP2: 0.2180 (range low)
TP3: 0.2100 (only if 0.2180 breaks with volume)
Notes:
Structure is bearish: a sequence of LHs and a trendline that has been respected on every bounce. But price is sitting on support, so wait for a confirmed close below it instead of shorting into the level. Support has been tested several times, so a bounce toward the trendline is also possible. A rejection there is a better risk/reward entry. Skip the short if a 15m candle closes above 0.2380; that breaks the trendline and the LH structure. Volume is low and flat, so only trust a breakdown that comes with a volume spike. The 15m timeframe is noisy. Risk 1% or less and keep leverage low (3-5x).
Not financial advice.
@Binance Square Official #BitcoinShortTermHoldersReach4.08MBTC #BitcoinRecoversTo$82K #OctoberFedHikeOddsFallToAround17% #Binance #ChartSniper