$BIFI I/USDT Short Setup
Entry Zone: 109.5 – 111.5
Logic: Enter on the current bearish momentum as the price fails to sustain levels above the 113.5 resistance.
Stop Loss (SL): 115.8
Logic: Positioned above the recent 24-hour high of 124.8 and the immediate resistance line to protect against a secondary spike.
Take Profit (TP): 102.3
Logic: Targeting the major horizontal support level where the previous accumulation occurred.
Resistance Rejection: The price hit a high of 124.8 and immediately retraced, leaving a long upper wick which signifies heavy selling pressure at the top.
Monitoring Status: The asset is under "Monitoring" on Binance, which typically implies higher volatility and risk.
Daily Context: While the coin is up +9.51% today, its long-term trend remains bearish, with a -38.30% drop over the last year.
Would you like me to check if the volume supports a deeper drop toward the 100 level$BIFI
