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📉 Rejection at resistance – a strong short-selling opportunity 🔥
· Entry zone: 1.585 – 1.595
· Target: 1.565 🚀
· Stop-loss: 1.625 ⚠️
A clear price rejection appeared from the resistance zone, with a long wick on the hourly chart, indicating buyer weakness. The price is struggling to hold above 1.60, while declining volume confirms sellers entering strongly.
The target at 1.565 provides a risk/reward ratio of 1:2 compared to the tightened stop-loss above the most recent top.
❓ Are you selling from here, or do you prefer to wait for a safer entry?
📌 Disclaimer: This is not investment advice. Always make sure to manage your risk.
$PENDLE #PENDLE Technical Analysis #Crypto