📢 $PLAY / $USDT | 🔴 SHORT | ⭐ 72.7%
🎯 Objective: $0.03458. Is it still falling?
🎯 Trading levels:
🟢 Entry: $0.03633
🛑 Stop Loss: $0.03738
🏁 TP1: $0.03458
🏁 TP2: $0.03423
🏁 TP3: $0.03353
📉 Analysis:
The structure of $PLAY shows a complete bearish alignment across all timeframes, confirming the breakout of a triple top that reinforces seller dominance. The RSI at 41.9 (relative strength indicator showing a lack of buying momentum) together with the bearish MACD crossover (moving average that measures trend changes) confirm that price is looking to test lower levels toward the VAL of the volume profile. Although the ADX at 11.99 indicates a current downtrend with low volatility, the prevailing technical pattern suggests a continuation toward support at $0.03555.
⚖️ Risk/Reward: 1:1.67
⏱️ Timeframe: 1h
📐 Technical confidence: 4/5
The thesis is invalidated if the price manages to consolidate above $0.03738, negating the current bearish pressure. We will watch for the absorption of sell orders in the entry zone to confirm that the bearish impulse still has enough strength to break the immediate technical support.
Do you think the current volume is insufficient to confirm this bearish move in $PLAY ?
💡 This analysis is for educational purposes and not financial advice. Do your own research and decide calmly.
#crypto #PLAY #trading #Futures #Bearish
🎯 Objective: $0.03458. Is it still falling?
🎯 Trading levels:
🟢 Entry: $0.03633
🛑 Stop Loss: $0.03738
🏁 TP1: $0.03458
🏁 TP2: $0.03423
🏁 TP3: $0.03353
📉 Analysis:
The structure of $PLAY shows a complete bearish alignment across all timeframes, confirming the breakout of a triple top that reinforces seller dominance. The RSI at 41.9 (relative strength indicator showing a lack of buying momentum) together with the bearish MACD crossover (moving average that measures trend changes) confirm that price is looking to test lower levels toward the VAL of the volume profile. Although the ADX at 11.99 indicates a current downtrend with low volatility, the prevailing technical pattern suggests a continuation toward support at $0.03555.
⚖️ Risk/Reward: 1:1.67
⏱️ Timeframe: 1h
📐 Technical confidence: 4/5
The thesis is invalidated if the price manages to consolidate above $0.03738, negating the current bearish pressure. We will watch for the absorption of sell orders in the entry zone to confirm that the bearish impulse still has enough strength to break the immediate technical support.
Do you think the current volume is insufficient to confirm this bearish move in $PLAY ?
💡 This analysis is for educational purposes and not financial advice. Do your own research and decide calmly.
#crypto #PLAY #trading #Futures #Bearish
