$PUMP / USDT Forming Bearish Head & Shoulders Pattern 📉
Although the daily structure remains intact, the lower timeframes are showing signs of a bearish correction toward the lower marked levels.
While the pattern appears clear, there is still a risk of a fakeout trap. We should wait for a proper breakdown and retest of the neckline before considering short positions.
Downside Targets 🎯:
$0.004679
$0.004450
$0.004144
I will share an update once a clear breakdown of this pattern is confirmed.
$PUMP
#pump #TechnicalAnalysis
Although the daily structure remains intact, the lower timeframes are showing signs of a bearish correction toward the lower marked levels.
While the pattern appears clear, there is still a risk of a fakeout trap. We should wait for a proper breakdown and retest of the neckline before considering short positions.
Downside Targets 🎯:
$0.004679
$0.004450
$0.004144
I will share an update once a clear breakdown of this pattern is confirmed.
$PUMP
#pump #TechnicalAnalysis