🐻 Bearish Market Structure Confirmation For $CRV
The analysis suggests a high-conviction Short trade due to the following structural indicators:
1. Break of Support and Lower Highs
The price action shows a clear series of lower highs and recently broke below a previous minor swing low, establishing a bearish trend structure.
The market is consistently failing to reclaim high ground, putting sellers in charge of the short-term direction.
2. Momentum Confirmation (The Power Move)
A recent large, high-volume red candle (bearish engulfing or a strong momentum candle) decisively broke below a short-term consolidation range (support level). This move consumed prior buyers and signals a strong intention from the sellers to push the price lower.
This strong move confirms the direction.
3. The Recommended Setup: Resistance Retest
The price is now undergoing a "pullback" or "retest" back up toward the level it just broke (around $0.4070 - $0.4080). This broken support now acts as new resistance.
This retest provides the ideal, lower-risk entry point for a short position, anticipating a continuation of the powerful move downward.
Entry ($0.4070 - $0.4080)Enter on the retest of the broken support (now resistance).
Stop Loss ($0.4105)Placed safely above the immediate high to protect capital if the retest fails and the price reverses.
Take Profit 1 ($0.4030)Target the recent swing low, where the sellers' immediate goal is
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