thetradershouse
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ENSOUSDT: short setup from daily support at 1.2632
The initial decline halted at the 1.2632 level. The following day, we witnessed a False Breakout relative to this price, which confirms the level's validity (as a False Breakout can only occur relative to a significant level). Essentially, a False Breakout represents the asset's inability to sustain a price below or above a certain point.
What do we see next? weakness. The asset failed to take out yesterday's High. Since we cannot go up, we are now seeing a gradual approach — a slow bleed — back toward our established support at 1.2632.
This gradual approach is clearly visible on the 4H timeframe and signals a strong bearish intent. This is not a panic dump; it is a methodical move where every limit buy order standing in the way is being slowly and confidently absorbed. Such clarity and precision in price action suggest that strong capital is driving this move.
Therefore, the breakdown of this level is simply a matter of time. Disclaimer: This is the crypto market. Anything can happen at any moment, and even the most professional analysis can be invalidated instantly. Always remember this.
#ENSOUSDT #TechnicalAnalysis #tradingStrategy #bearish #TheTradersHouse
The initial decline halted at the 1.2632 level. The following day, we witnessed a False Breakout relative to this price, which confirms the level's validity (as a False Breakout can only occur relative to a significant level). Essentially, a False Breakout represents the asset's inability to sustain a price below or above a certain point.
What do we see next? weakness. The asset failed to take out yesterday's High. Since we cannot go up, we are now seeing a gradual approach — a slow bleed — back toward our established support at 1.2632.
This gradual approach is clearly visible on the 4H timeframe and signals a strong bearish intent. This is not a panic dump; it is a methodical move where every limit buy order standing in the way is being slowly and confidently absorbed. Such clarity and precision in price action suggest that strong capital is driving this move.
Therefore, the breakdown of this level is simply a matter of time. Disclaimer: This is the crypto market. Anything can happen at any moment, and even the most professional analysis can be invalidated instantly. Always remember this.
#ENSOUSDT #TechnicalAnalysis #tradingStrategy #bearish #TheTradersHouse
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