⚡ POL is OVERSOLD on 4H (RSI 26.4!) and down 12% — but dont catch this knife yet.
Volume is SURGING at 2x average. Strong downtrend confirmed with price below all major SMAs on 4H. When volume spikes on a dump, it means capitulation OR exhaustion — and we need to see which one.
📊 Why this trade?
POL has been bleeding from $0.106 (4H SMA7) and the structure is bearish across timeframes. However, RSI 26 on 4H is extreme oversold — a bounce to $0.094-0.096 (previous support turned resistance) is probable before the next leg down. Short the bounce, not the bottom.
📋 Trade Plan (SHORT on bounce):
• Entry: $0.0883 – $0.0917
• Stop Loss: $0.0967 (above 4H SMA7)
• TP1: $0.0856 | TP2: $0.0830
• Confidence: 74%
Oversold can stay oversold. Wait for the bounce candle before entering.
💬 Is POL a buy-the-dip play at RSI 26 or does it have more downside? 🤔
#POL #DYOR #CryptoTrading
⚠️ Disclaimer: This is not financial advice. Do your own research. Crypto is volatile — never risk more than you can afford to lose.