1D Bearish Divergence: Price made a higher high while RSI made a lower high → momentum weakening.
Multi-timeframe confirmation: The same divergence is visible on 1H and 4H → increases reliability of a reversal.
Price at TP: Already hit the prior projection target.
Neckline watch: A close below the marked yellow neckline (~$4,541) could be your trigger to open short positions.
Next potential drop zone: If neckline breaks, next strong support is around $3,449.
This means it’s not an automatic short yet — but if price closes decisively below neckline support with increased volume, it would align with the bearish divergence and justify riding the trade down toward the $3,449 area.
Multi-timeframe confirmation: The same divergence is visible on 1H and 4H → increases reliability of a reversal.
Price at TP: Already hit the prior projection target.
Neckline watch: A close below the marked yellow neckline (~$4,541) could be your trigger to open short positions.
Next potential drop zone: If neckline breaks, next strong support is around $3,449.
This means it’s not an automatic short yet — but if price closes decisively below neckline support with increased volume, it would align with the bearish divergence and justify riding the trade down toward the $3,449 area.
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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.
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.