PROM down 12.5% but the daily trend is still 'strong uptrend.' This is what traders call a shakeout — designed to scare you out before the next leg. 🎢
Price at $3.96 is still above the 7-day daily MA ($3.16). The daily RSI at 73.5 shows the trend has momentum. But the 4H shows declining volume — sellers are exhausting.
Why This Trade?
When a strong uptrend has a sharp pullback on declining volume, it's usually a bull trap for shorts. The crowd sells panic, smart money accumulates. The long/short ratio at 0.71 confirms the crowd is short.
📋 Trade Plan:
• Entry: $3.71 — $4.21 (wide range for volatility)
• Stop: $3.31 (below the psychological support)
• TP1: $4.12 | TP2: $4.28 | TP3: $4.44
• Confidence: 75%
The wider entry range accounts for the volatility. Scale in, don't go all-in.
Would you buy a 12% dip in a strong uptrend? Yes or No? 👇
#PROM #AltcoinTrading #DYOR
⚠️ Not financial advice. Do your own research.
Price at $3.96 is still above the 7-day daily MA ($3.16). The daily RSI at 73.5 shows the trend has momentum. But the 4H shows declining volume — sellers are exhausting.
Why This Trade?
When a strong uptrend has a sharp pullback on declining volume, it's usually a bull trap for shorts. The crowd sells panic, smart money accumulates. The long/short ratio at 0.71 confirms the crowd is short.
📋 Trade Plan:
• Entry: $3.71 — $4.21 (wide range for volatility)
• Stop: $3.31 (below the psychological support)
• TP1: $4.12 | TP2: $4.28 | TP3: $4.44
• Confidence: 75%
The wider entry range accounts for the volatility. Scale in, don't go all-in.
Would you buy a 12% dip in a strong uptrend? Yes or No? 👇
#PROM #AltcoinTrading #DYOR
⚠️ Not financial advice. Do your own research.