SHORT $PLAY (15M Timeframe)
$PLAY has already made a strong pump, followed by sideways consolidation / distribution, and price failed to reclaim the recent high. The current structure suggests weakening buying pressure, making this a reasonable short-on-bounce setup.
Entry: 0.0640 – 0.0650
Stop loss: Above the previous high ~0.0700
Take profit 1: 0.0600
Take profit 2: 0.0560
Bias: Pump and distribution, shorting near the upper range with favorable risk–reward
Risk management is key. Maintain the position only while price remains below the prior high.
