$HYPE Bearish Setup: 5-Wave Crypto Structure Completed!
After completing a solid 5-wave bullish impulse up to $98, HYPE altered its market structure. It dropped to break the last higher low created before the peak, followed by a failed retest of the $98 resistance.
This failure confirms the start of a Corrective ABC (3-wave) pattern, which is expected to drag the price below the $50 psychological level.
Short Setup:
Entry: Current Market
Stop Loss (SL): 100
Targets:
TP1: $75
TP2: $63
TP3: $50
After completing a solid 5-wave bullish impulse up to $98, HYPE altered its market structure. It dropped to break the last higher low created before the peak, followed by a failed retest of the $98 resistance.
This failure confirms the start of a Corrective ABC (3-wave) pattern, which is expected to drag the price below the $50 psychological level.
Short Setup:
Entry: Current Market
Stop Loss (SL): 100
Targets:
TP1: $75
TP2: $63
TP3: $50
