$HYPE USDT Short (downtrend continuation)
Price is ~84.26 on the 1h chart, rejected at the LH (~86.2) after a retest of the falling trendline. Resistance is the 87.267 level (also the 38.2% Fib). The swing low (HL) is ~82.7.
Entry: 83.80-84.30 (current area) on a bearish 1h candle, or a safer entry on a 1h close below 82.70 (breaks the HL)
Stop loss: 86.60 (above the LH and the trendline)
TP1: 82.70 (HL)
TP2: 80.00 TP3: 78.00 (only if 82.70 breaks with volume)
Notes:
Structure is bearish: a series of LH and LL, with the trendline rejected again. The 87.267 level is the line that would flip it. Price is close to the HL, so a bounce is possible. A breakdown close below 82.70 is the cleaner entry than shorting into support. Skip the short if a 1h candle closes above 87.30; that breaks the trendline and the 38.2% level. Volume is fading on this leg down, so don't trust a breakdown unless it comes with a volume spike. Risk 1-2% and keep leverage low (3-5x).
Not financial advice.
@Binance Square Official #BitcoinReboundsTo$83K #EthereumLiquidationsHit$356M #BitcoinETFsSee$244MNetOutflows #Binance #ChartSniper
Price is ~84.26 on the 1h chart, rejected at the LH (~86.2) after a retest of the falling trendline. Resistance is the 87.267 level (also the 38.2% Fib). The swing low (HL) is ~82.7.
Entry: 83.80-84.30 (current area) on a bearish 1h candle, or a safer entry on a 1h close below 82.70 (breaks the HL)
Stop loss: 86.60 (above the LH and the trendline)
TP1: 82.70 (HL)
TP2: 80.00 TP3: 78.00 (only if 82.70 breaks with volume)
Notes:
Structure is bearish: a series of LH and LL, with the trendline rejected again. The 87.267 level is the line that would flip it. Price is close to the HL, so a bounce is possible. A breakdown close below 82.70 is the cleaner entry than shorting into support. Skip the short if a 1h candle closes above 87.30; that breaks the trendline and the 38.2% level. Volume is fading on this leg down, so don't trust a breakdown unless it comes with a volume spike. Risk 1-2% and keep leverage low (3-5x).
Not financial advice.
@Binance Square Official #BitcoinReboundsTo$83K #EthereumLiquidationsHit$356M #BitcoinETFsSee$244MNetOutflows #Binance #ChartSniper