$BTR
This coin is a hot spot that has been chased by funds over the past few days. I stopped out once, but the BTC L2 sector—or this project in particular—doesn’t seem to work.~
Now the hot money is all on-chain, on prediction, and on memes.
After being pulled up from a low level, it was viciously dumped down at 0.224. It bounced once, but didn’t make a new high. Now it’s drifting lower again, with the lows still moving down.
Volume expands during the decline and shrinks during the rebound, so the bears are in control. There’s some support around 0.158–0.160, but it doesn’t look very solid.
Personal plan: short.
Entry: short on the rebound at 0.166–0.169.
Stop loss: 0.182.
Take profit: first target 0.152; if it breaks, then look at 0.138.
On both the 1-hour and 15-minute timeframes, the bias is currently bearish—don’t try to bottom-fish against the trend.
Wait until the direction is clear before moving in. Control your position size; don’t use maximum leverage.
This coin is a hot spot that has been chased by funds over the past few days. I stopped out once, but the BTC L2 sector—or this project in particular—doesn’t seem to work.~
Now the hot money is all on-chain, on prediction, and on memes.
After being pulled up from a low level, it was viciously dumped down at 0.224. It bounced once, but didn’t make a new high. Now it’s drifting lower again, with the lows still moving down.
Volume expands during the decline and shrinks during the rebound, so the bears are in control. There’s some support around 0.158–0.160, but it doesn’t look very solid.
Personal plan: short.
Entry: short on the rebound at 0.166–0.169.
Stop loss: 0.182.
Take profit: first target 0.152; if it breaks, then look at 0.138.
On both the 1-hour and 15-minute timeframes, the bias is currently bearish—don’t try to bottom-fish against the trend.
Wait until the direction is clear before moving in. Control your position size; don’t use maximum leverage.