The 4H chart trend looks bearish. The price encountered strong rejection in a key supply zone (around 0.03105), confirming the bears' control. Currently, the price is consolidating below a broken support area (now acting as resistance).
The trigger signal comes from a smaller time frame. On the 1-hour chart, the Relative Strength Index (RSI) is likely to encounter rejection at the 50 midline. This failure to break and hold above the 50 line, combined with the price being continuously suppressed by key EMAs, indicates that buyer momentum is waning.
This provides us with a high-probability shorting opportunity. We are trading in alignment with the larger trend, and the price's failure to strongly rebound shows potential weakness. A breakdown of the current consolidation range could trigger the next wave of downward movement.
Executable trade setup (short)
Entry: Market price 0.02690
Take profit 1: 0.02490
Take profit 2: 0.02290
Stop loss: 0.02823
COTIUSDT
Perp
0.02646
-4.37%
$FHE
FHEUSDT
Perp
0.01575
+0.06%
$PIEVERSE
PIEVERSEUSDT
Perp
0.4835
-2.87%