๐จ $G : Overheated Rally - Top-Fishing Short Setup! ๐
Plan trade: Short ๐ด
Entry Zone: $0.0061 - $0.0063
Take Profit:
๐ฏ TP1: $0.0058
๐ฏ TP2: $0.0056
๐ฏ TP3: $0.0053
Stop Loss: $0.0065
๐ฅ Technical Analysis:
On the H4 and H1 charts, $G experienced a sharp spike (+15%) to $0.00655 but faced immediate selling pressure, forming a long upper wick. RSI is in extreme overbought territory (> 80), indicating an overheated market. The price is significantly overextended from EMA lines, creating strong pressure for a mean reversion correction to lower levels to fill the liquidity gap. Bullish momentum is clearly fading around the $0.0062 zone.
โ ๏ธ Stop Loss Rationale:
The $0.0065 level is just above the recent resistance wick high. If the price breaks this level, the rally will likely continue strongly to new highs.
