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$JELLYJELLY USDT (1h) - Trend Line Breakdown & Bearish Continuation
Bias: Short
Entry (Zone): 0.06050 – 0.06200
Targets:
TP1: 0.05850
TP2: 0.05720
TP3: 0.05500
Stop Loss: 0.06380
Why this Setup:
I’m leaning short because the asset has entered a clear distribution phase after peaking at 0.06710. The price broke down aggressively from its mid-range support level and is currently stalling out near the local lows at 0.05985. The minor hourly recovery candles show extremely weak buying volume, indicating a lack of demand at these levels. With sellers firmly maintaining control of the upper boundaries, I expect this local consolidation flag to break downward to retest and breach the 0.05727 structural floor.
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