Technical analysis by MyCryptoParadise about Symbol HOOK: Sell recommendation (2/27/2025)

Yello, Paradisers! Is HOOKUSDT gearing up for a major drop? The current structure suggests a strong probability for further downside as the price follows a triple three-wave pattern within a descending channel.💎HOOKUSDT recently faced strong resistance from multiple confluences: 50 EMA rejection, Key resistance zone, Descending channel’s trendline, Formation of an "M" pattern. These factors increase the likelihood of a wave Z move downward. However, for confirmation, we need a clear breakdown of the support level with a candle close below it and high volume.💎The broader crypto market also leans bearish, but waiting for the actual breakdown will further strengthen our probability of a successful trade.💎Invalidation? If the price bounces and closes candle above the resistance zone, the bearish outlook gets invalidated. In that case, it’s smarter to stay patient and wait for a stronger setup.🎖 Discipline and patience are key, Paradisers! The market always rewards those who wait for the highest-probability trades. Stay sharp!MyCryptoParadiseiFeel the success🌴