$CFX Bearish Correction / Consolidation Setup 📉⚠️
Entry: 0.06450 – 0.06550
CFX is currently in a corrective phase after facing rejection at the 0.06814 local resistance level. The price has broken below its immediate bullish structure on the 4H timeframe and is currently trending downward toward the major support base at 0.05959.
The current price of 0.06340 reflects a decline of -2.22%, with volume indicators showing that sellers are maintaining pressure. This entry zone focuses on a potential "lower high" retest of the broken support, anticipating a continuation toward the primary demand zone where a stronger bounce might occur.
Bearish Below: 0.06280
TP1: 0.06100
TP2: 0.05960
TP3: 0.05700
SL: 0.06750