Symbol - QUICKUSDT
CMP - 0.0290
QUICKUSDT is currently exhibiting a counter-trend move toward the resistance level within the range of 0.0295, A false breakdown of this key level has occurred amidst the prevailing downtrend.
The cryptocurrency market is undergoing a period of significant challenges. While Bitcoin is testing new lows around 77K, altcoins are continuing their downward trajectory in search of additional support levels. Notably, QUICKUSDT stands out by testing a strong resistance/liquidity zone between 0.0284 and 0.0295, where a false breakout is forming.
However, in the morning session, Bitcoin shows signs of strengthening after a substantial decline, potentially exerting upward pressure on the broader market. As such, prior to any further decline, there may be another attempt to retest the 0.0295 level or update the false breakout tail around 0.0300 (0.7 Fibonacci retracement)
Key resistance levels: 0.0285, 0.0295, 0.0300
Key support levels: 0.0243, 0.0211
Should the next resistance retest result in a false breakdown with price consolidation below 0.0295, QUICK coin could continue its decline in the short to medium term.
CMP - 0.0290
QUICKUSDT is currently exhibiting a counter-trend move toward the resistance level within the range of 0.0295, A false breakdown of this key level has occurred amidst the prevailing downtrend.
The cryptocurrency market is undergoing a period of significant challenges. While Bitcoin is testing new lows around 77K, altcoins are continuing their downward trajectory in search of additional support levels. Notably, QUICKUSDT stands out by testing a strong resistance/liquidity zone between 0.0284 and 0.0295, where a false breakout is forming.
However, in the morning session, Bitcoin shows signs of strengthening after a substantial decline, potentially exerting upward pressure on the broader market. As such, prior to any further decline, there may be another attempt to retest the 0.0295 level or update the false breakout tail around 0.0300 (0.7 Fibonacci retracement)
Key resistance levels: 0.0285, 0.0295, 0.0300
Key support levels: 0.0243, 0.0211
Should the next resistance retest result in a false breakdown with price consolidation below 0.0295, QUICK coin could continue its decline in the short to medium term.
Trade active
CMP 0.0312Showing false breakout of resistance.
Short position opened. Holding with SL 0.0330
Note
Demonstrating volatility and failing to reach either the target or stop-loss levels.Holding short position with 0.0330 SL for targets 0.0245 & 0.0212
Note
Short position active.Trade closed: target reached
It may low of 0.0213 & missed second target by small margin, short position exited at 0.222-28% fall from my short level.
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Trading isn’t a gamble. When skill meets discipline - profit becomes the natural outcome.
Join me, I'll guide you to PROFITABLE TRADING.
Join me, I'll guide you to PROFITABLE TRADING.
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.