Technical analysis by Asif_Iqbal_chaudhary about Symbol MKR: Sell recommendation (2/20/2025)

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: 1,026.6Trading 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! 🔥👇