$HYPE This spike has pushed up to the previous high point, but it clearly couldn’t be sustained. Now the price has already broken below the support of the short-term moving average, and the signs that the market is weakening in the short term are quite clear.
$HYPE - Empty
Trading framework:
Entry: 58.30 - 58.60
Stop loss (SL): 59.80
Target 1 (TP1): 57.05
Target 2 (TP2): 56.00
Target 3 (TP3): 55.00
Core idea:
After that move up to 60.4, there was obviously no real follow-through. The current price is already below and being pressed down by the short-term moving average; even rebounds can’t even reach the edge of 58.7. Trading volume has also been shrinking continuously, which shows there’s basically no willingness from market participants to step in and take positions at this level. As long as 59.8 doesn’t break back above with convincing volume, this weak market structure will most likely continue—driven by inertia—to revisit the prior low around 57, or potentially go even deeper. Following this rhythm, the risk-reward ratio for a short setup still looks good.
Click here to trade👇
$HYPE - Empty
Trading framework:
Entry: 58.30 - 58.60
Stop loss (SL): 59.80
Target 1 (TP1): 57.05
Target 2 (TP2): 56.00
Target 3 (TP3): 55.00
Core idea:
After that move up to 60.4, there was obviously no real follow-through. The current price is already below and being pressed down by the short-term moving average; even rebounds can’t even reach the edge of 58.7. Trading volume has also been shrinking continuously, which shows there’s basically no willingness from market participants to step in and take positions at this level. As long as 59.8 doesn’t break back above with convincing volume, this weak market structure will most likely continue—driven by inertia—to revisit the prior low around 57, or potentially go even deeper. Following this rhythm, the risk-reward ratio for a short setup still looks good.
Click here to trade👇