Yello, Paradisers! Have you been watching CGPT closely? Because what we’re seeing now could be a textbook setup to liquidate early longs before a brutal downward move. This is the exact type of trap that punishes undisciplined traders and rewards those who wait.
💎After weeks of bullish momentum with clean higher highs and higher lows, #CGPTUSDT has now printed a clear change of character (CHoCH). The previous low was taken out, and now price has pulled back right into a high-probability resistance zone. This zone, between $0.115 and $0.118, aligns perfectly with a broken ascending trendline adding confluence that strengthens our bearish bias. Traders who aren't careful might interpret this retest as a sign of strength, but this could just be the market setting up its next liquidation wave.
💎Adding even more weight to this bearish thesis is the fact that #CGPT is currently trading below its 50 EMA on the 4H timeframe, showing clear weakness and confirming that the short-term momentum has already shifted in favor of sellers. This acts as dynamic resistance and makes it even harder for price to reclaim bullish control without a significant effort from buyers.
💎The structure is showing all signs of a classic trap. Price action is hesitant at resistance, and with momentum waning, a rejection from this level could spark a swift move down toward $0.09188, our first support zone. But that may not be the end of it. If selling accelerates, we are eyeing the $0.07133 area as a potential major demand zoneour strong support and where true smart money will likely accumulate. However, we must always remain tactical. If CGPTUSDT flips above $0.12526, this bearish scenario is invalidated and we would reassess for possible bullish continuation.
Discipline, patience, robust strategies, and trading tactics are the only ways you can make it long-term in this market.
MyCryptoParadise
iFeel the success🌴
💎After weeks of bullish momentum with clean higher highs and higher lows, #CGPTUSDT has now printed a clear change of character (CHoCH). The previous low was taken out, and now price has pulled back right into a high-probability resistance zone. This zone, between $0.115 and $0.118, aligns perfectly with a broken ascending trendline adding confluence that strengthens our bearish bias. Traders who aren't careful might interpret this retest as a sign of strength, but this could just be the market setting up its next liquidation wave.
💎Adding even more weight to this bearish thesis is the fact that #CGPT is currently trading below its 50 EMA on the 4H timeframe, showing clear weakness and confirming that the short-term momentum has already shifted in favor of sellers. This acts as dynamic resistance and makes it even harder for price to reclaim bullish control without a significant effort from buyers.
💎The structure is showing all signs of a classic trap. Price action is hesitant at resistance, and with momentum waning, a rejection from this level could spark a swift move down toward $0.09188, our first support zone. But that may not be the end of it. If selling accelerates, we are eyeing the $0.07133 area as a potential major demand zoneour strong support and where true smart money will likely accumulate. However, we must always remain tactical. If CGPTUSDT flips above $0.12526, this bearish scenario is invalidated and we would reassess for possible bullish continuation.
Discipline, patience, robust strategies, and trading tactics are the only ways you can make it long-term in this market.
MyCryptoParadise
iFeel the success🌴
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Do you Want to start trading like a PRO?
Follow a team of traders with 10+ years of experience?
Join FREE👉 t.me/+QwK2mkoTGBU0Nzc0
🎖️Or Fully Upgrade Your Trading With Clean strategy, and PRO Crypto Signals 👉 shorturl.at/ikpAV
Follow a team of traders with 10+ years of experience?
Join FREE👉 t.me/+QwK2mkoTGBU0Nzc0
🎖️Or Fully Upgrade Your Trading With Clean strategy, and PRO Crypto Signals 👉 shorturl.at/ikpAV
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.