$BASED – OVEREXTENDED MOVE, SHORT SETUP IN PLAY
#BASED is showing signs of exhaustion after a strong push upward, with price extending beyond short-term equilibrium levels. This increases the probability of a corrective move if momentum fades.
TRADE PLAN – SHORT IDEA
Entry Zone: 0.079 – 0.0815
Stop Loss: 0.0850
TARGETS
TP1: 0.0750
TP2: 0.0715
TP3: 0.0675
MARKET STRUCTURE
Price appears overextended after the recent move, suggesting potential profit-taking and weakening bullish momentum. This often leads to retracement or cooldown phases before any continuation.
OUTLOOK
If sellers step in at current levels, downside continuation toward lower support zones is likely. However, a breakout above 0.0850 would invalidate the bearish setup and signal renewed strength.