strong buy
Bearish Outlook on BANANAUSDT: Short Position with Targeted Downside
The medium-term downtrend has transitioned into a sideways range on the 1-hour timeframe, with lows and highs gradually decreasing. On the higher timeframe, the trend remains bearish, and entry points from mirror levels are only feasible for downside positions. A structure was tested and confirmed, indicating a reverse downward breaking of the structure. The price retested the structure, bouncing downward and confirming the presence of sellers.
A block for selling has been formed, tested, and confirmed, serving as confirmation of a bearish posture. Additionally, a cascade of liquidity levels below has been established, providing fuel for continued depreciation of the asset.
The suggested entry range is between 16.90 and 17.70, with the stop loss placed according to the chosen strategy and risk management principles.
Target levels are set at 16.07, 14.62, 13.74, and 11.00.
Source available for registered users Sign Up Free
AI Analysis
The current technical analysis indicates a predominant bearish momentum on the higher timeframe, maintaining its downtrend despite a short-term sideways consolidation on the 1-hour chart. The formatio...
AI Recommendation
Given the technical signals and the confirmed structural breakdown, it is advisable to initiate a short position within the specified entry zone of 16.90 to 17.70. Close attention should be paid to ri...
Disclaimer
The AI analysis and recommendations provided are for informational purposes only. Any investment decisions should be made at your own risk. Past performance is not indicative of future results. Always conduct your own research and consider consulting with a financial advisor before making any investment decisions.
You might also be interested in:
top pick