ALICE/USDT : Failed to hold the breakout!

19 mag 2022

ALICEUSDT
Hello everyone 😃
Before we start to discuss, I'll be so glad if you share your opinion on this post's comment section and hit the like button if you enjoyed it!

ALICE has a breakout on $2.96's resistance and holds above the broken line and it causes the line to change from resistance into the S/R line.
But It didn't take much time and got rejected below it.
Now based on our data, The failed breakout attempt has low volume and it comes with a bearish setup opportunity!

There're four factors to look for :
- Fake pump with low volume
- Back to the range
- Invalidation above recent high
- Target to range's low

I'm going to locate my Short into the S/R zone with an invalidation above $3.36 ( Active management ), With two major targets;
- Range's Low at $2.09
- Possible Local low at $1.06

Hope you enjoyed the content I created, You can support us with your likes and comments!
Attention: this isn't financial advice we are just trying to help people with their vision.

Have a good day!
Helical_Trades