LINK/USDT 1H: Bearish Breakdown – Targeting $17.20 Support?"

LINK/USDT 1H: Bearish Breakdown – Targeting $17.20 Support?
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Current Market Structure:

• Price is exhibiting a bearish trend after breaking key support at $18.40.
  
• Current trading around $17.83 indicates further downside potential.
  

Market Maker Activity:

• Distribution pattern is visible with lower highs and lower lows.
  
• Market makers are likely targeting liquidity around $17.20.
  

Technical Indicators:

• Hidden bearish divergence on RSI reinforces the downtrend.
  
• Volume profile confirms ongoing distribution.
  

Trade Setup (Confidence 7.5/10):

• Entry: Short entry on a retest in the $17.90-$18.00 zone.
  
• Targets:
  
• T1: $17.40
  
• T2: $17.20
  
• Stop Loss: Place above recent highs at $18.45.
  

Risk Score:
8/10 – High-risk environment with a favorable risk-to-reward, provided key levels hold.

Recommendation:

• Short positions are recommended once a retest of the $18.00 resistance is confirmed.
  
• Monitor volume closely and wait for confirmation before entering.
  

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