$BTR
The other day’s short position was stopped out. The volatility is huge, so stop-losses are really important.
This time it pushed up again from the consolidation range, directly reaching 0.224. However, the long upper wick on that candle and the increased volume make it look more like distribution/profit-taking followed by a drop, rather than a real breakout with follow-through. It has since pulled back to around 0.166, and the low at 0.151 was hit once already. Right now it’s in the rebound stage after a pulldown.
At this kind of level, the biggest risk is a combination of high funding rates at the top and leveraged longs cashing out at the same time. That can trigger a rapid sell-off.
The volume peak has already passed. If volume can’t keep up from here, the rebound is likely to offer shorts a better entry point.
Personal plan: I’m going short again and reopened a short.
Entry: around 0.180 (you can scale in between 0.178–0.183)
Stop-loss: 0.205 (if it breaks near the previous high, it means there are still players willing to push higher—admit defeat and exit; don’t set it too tight to avoid getting swept)
Take-profit: first target 0.151 (previous low), second target 0.128–0.132 (a gap below the previous low / psychological level). If you’re aggressive, you can look for 0.115.
Don’t size too big. These coins after a fresh surge are extremely volatile. If it breaks 0.151 and can’t get back above it, you can keep the short. If the rebound directly holds above 0.185 and volume expands, then withdraw this trade—don’t stubbornly hold.
The other day’s short position was stopped out. The volatility is huge, so stop-losses are really important.
This time it pushed up again from the consolidation range, directly reaching 0.224. However, the long upper wick on that candle and the increased volume make it look more like distribution/profit-taking followed by a drop, rather than a real breakout with follow-through. It has since pulled back to around 0.166, and the low at 0.151 was hit once already. Right now it’s in the rebound stage after a pulldown.
At this kind of level, the biggest risk is a combination of high funding rates at the top and leveraged longs cashing out at the same time. That can trigger a rapid sell-off.
The volume peak has already passed. If volume can’t keep up from here, the rebound is likely to offer shorts a better entry point.
Personal plan: I’m going short again and reopened a short.
Entry: around 0.180 (you can scale in between 0.178–0.183)
Stop-loss: 0.205 (if it breaks near the previous high, it means there are still players willing to push higher—admit defeat and exit; don’t set it too tight to avoid getting swept)
Take-profit: first target 0.151 (previous low), second target 0.128–0.132 (a gap below the previous low / psychological level). If you’re aggressive, you can look for 0.115.
Don’t size too big. These coins after a fresh surge are extremely volatile. If it breaks 0.151 and can’t get back above it, you can keep the short. If the rebound directly holds above 0.185 and volume expands, then withdraw this trade—don’t stubbornly hold.