$NEAR USDT Short (descending trendline rejection)
Price is ~4.995 on the 15m chart, rejected at the LH (~5.43) and now below the falling trendline, with red FVGs above acting as resistance. Key support is 4.871, with the HL at ~4.55 below it.
Entry: 15m candle close below 4.87 (breaks support), or a rejection at 5.10-5.20 (trendline and FVG zone)
Stop loss: 5.25 (above the trendline and the FVG cluster)
TP1: 4.75
TP2: 4.60 (HL area)
TP3: 4.45 (only if 4.55 breaks with volume)
Notes:
Structure is bearish: an LH, then a break below the 50% level and price staying under the falling trendline. But price is a bit above 4.871 support, so wait for a close below it, or a bounce into the trendline, for a better entry. Support at 4.871 has held before, and the green FVGs below could attract a bounce. Don't short right into them. Skip the short if a 15m candle closes above 5.25; that breaks the trendline and the LH structure. There was a volume spike on the latest drop, which supports the bearish case, but it has since faded. 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 ~4.995 on the 15m chart, rejected at the LH (~5.43) and now below the falling trendline, with red FVGs above acting as resistance. Key support is 4.871, with the HL at ~4.55 below it.
Entry: 15m candle close below 4.87 (breaks support), or a rejection at 5.10-5.20 (trendline and FVG zone)
Stop loss: 5.25 (above the trendline and the FVG cluster)
TP1: 4.75
TP2: 4.60 (HL area)
TP3: 4.45 (only if 4.55 breaks with volume)
Notes:
Structure is bearish: an LH, then a break below the 50% level and price staying under the falling trendline. But price is a bit above 4.871 support, so wait for a close below it, or a bounce into the trendline, for a better entry. Support at 4.871 has held before, and the green FVGs below could attract a bounce. Don't short right into them. Skip the short if a 15m candle closes above 5.25; that breaks the trendline and the LH structure. There was a volume spike on the latest drop, which supports the bearish case, but it has since faded. 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