MKR/USDT (1H) – Rising Wedge Breakdown Potential

Market Overview:
The MKR/USDT pair is forming a Rising Wedge, a bearish reversal pattern. This suggests a potential downside move after a strong uptrend if the price breaks below the support level.

Key Technical Observations:
🔹 Rising Wedge Formation: The pattern consists of higher highs (HH) and higher lows (HL), signaling weakening bullish momentum.
🔹 RSI Bearish Divergence: The RSI indicates weakening buying pressure, increasing the likelihood of a correction.


Trade Setup:
📌 Sell Stop Entry: Below 1,157.1 (Wedge breakdown)
📌 Stop Loss: 1,273.9 (Above resistance)
📌 Take Profit 1: 1,100.6
📌 Take Profit 2: 1,026.6

Trading Plan:
✅ If the price breaks below 1,157.1, a short position is valid.
✅ Stop loss is placed above resistance to limit upside risk.
✅ Secure partial profits at TP-1 (1,100.6) and trail SL for TP-2 (1,026.6).

💡 Conclusion:
A confirmed Rising Wedge breakdown signals a potential bearish move. Traders should wait for a clear break below 1,157.1 before entering short positions.

📉 Trade smart & manage risk! 🚨

💬 What’s your view on MKR? Drop your thoughts in the comments! 🔥👇