$4 – Sharp push into resistance, signs of exhaustion emerging
Trading Plan: Short $4 (max 10x)
Entry: 0.0135 – 0.0142
SL: 0.015
TP1: 0.0122
TP2: 0.0113
TP3: 0.0104
Why this setup?
Price has rallied quickly into a key resistance zone, but momentum is starting to fade. While buyers managed to drive the move higher, the lack of strong continuation suggests weakening demand. The structure is becoming increasingly choppy, often a sign of distribution rather than strength.
When price extends rapidly and begins to stall at resistance, it typically opens the door for a pullback as sellers regain control. This setup favors a short bias, targeting a retracement from the overheated move.
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