🔍 Overview: Exciting setup on SNAP with two bearish harmonic patterns: Butterfly and Anti-Cypher. This double confirmation strengthens the bearish outlook! 📉 The RVOLD average is supporting the downward move, increasing alongside the red candles. 📊
📉 Chart Analysis: 1️⃣ The Butterfly and Anti-Cypher patterns are indicating potential reversals, with strong resistance around the $17.34 level. 2️⃣ The increasing RVOLD average supports the bearish sentiment, suggesting more sellers are stepping in. 📈
🎯 Trade Setup:
Entry Point: Look for confirmations as the price approaches resistance. Target 1: $16.31 💰 Target 2: $16.19 💸 Stop Loss: $17.34 🚨
📝 Why I'm Interested: These patterns have formed fairly recently (less than 24 hours), making this an early signal. If we nail it, it can be super profitable. 📊📉 The double harmonic patterns and increasing RVOLD give a strong bearish confirmation, perfect for a high-probability trade.
📅 Timeframe: Watching this setup on a 3-hour chart, so keep an eye on shorter-term price movements for the best entries and exits. ⏳
🔔 Stay Updated: Be ready to adapt your strategy as the price action unfolds. Let's get it! 🤑💪🏻
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