A signal.
$STX 15-minute RSI has crashed to 2.8. Extremely oversold.
$STX 15-minute RSI 2.8. Extremely oversold. Current price 0.1482. Down 11.4% in 24h.
Support 0.1400 0.1640. Resistance 0.1684 0.1704.
Fee rate -0.058%. Shorts are paying. This is because the 4h chart smashed into a trading volume of 61 million, 15 times the usual. It poked down to 0.1398 and then rebounded by most of the way back. A typical panic sell-off.
My plan: current price 0.1482. Slightly bullish. Entry 0.1450-0.1500, stop loss 0.1370, target 0.1640, risk-reward about 2:1.
RSI 2.8. Panic has been dumped, but the 4h candle closed with a long lower wick. Shorts have started paying the funding fee. I’ve seen this kind of market—panic is an opportunity. Go long.
With it down like this, can you still hold your STX?
#STX #Stacks #oversold rebound