Lingrid | TONUSDT bearish MOMENTUM. Short
2024-11-01

BINANCE:TONUSDT  is currently making lower lows and has closed below the psychological support level of 5.00. The bounce from the support was weak, lacking any bullish momentum. Additionally, the October monthly candle closed bearish, suggesting that the price could potentially move to even lower levels. On the daily timeframe, the market formed relatively equal lows, which include both the September and October lows. I believe the market may retest these levels to grab liquidity. After forming a range zone, the market eventually broke through it, pulled back for a retest, and continued its downward move. Therefore, I anticipate that the market to either move lower or enter a consolidation phase. My target is support zone around 4.530


Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩‍💻 