๐ HEMI dropped nearly 10% today and the 4H RSI just hit 30.7 โ approaching oversold. So why am I still short?
Because the trend is your enemy until it changes.
๐ The Picture
HEMI at $0.00789 after a -9.93% dump. The 4H RSI at 30.7 is flirting with oversold, but the daily RSI at 43.2 shows this is just the beginning of a larger move down. MACD 4H is negative (-0.0014) and deepening (-0.0003).
Price has collapsed below all short-term MAs: SMA7 4H ($0.00855), SMA25 4H ($0.01059). It is also below the daily SMA7 ($0.0121) and SMA25 ($0.01033). The only support left is the daily SMA99 at $0.00638.
๐ง Why This Trade?
Long/Short ratio at 1.11 โ nearly balanced, meaning there is no capitulation yet. When the crowd is evenly split during a downtrend, it usually means the selling has more room. Real bottoms form when everyone is short and nobody wants to buy.
๐ The Plan
โฌ๏ธ SHORT Entry: $0.00745 - $0.00833
๐ Stop Loss: $0.00966 (above SMA25 4H resistance)
๐ฏ TP1: $0.00722 | TP2: $0.00700 | TP3: $0.00670
TP3 targets the daily SMA99 โ the last major support before we enter unknown territory.
โ ๏ธ Low-cap token โ expect violent wicks. Keep position size small.
Oversold bounce or more pain ahead? What is your read on HEMI? ๐
#HEMI #CryptoTrading #DYOR
โ ๏ธ Disclaimer: Not financial advice. Low-cap tokens are extremely volatile. Always do your own research.
Because the trend is your enemy until it changes.
๐ The Picture
HEMI at $0.00789 after a -9.93% dump. The 4H RSI at 30.7 is flirting with oversold, but the daily RSI at 43.2 shows this is just the beginning of a larger move down. MACD 4H is negative (-0.0014) and deepening (-0.0003).
Price has collapsed below all short-term MAs: SMA7 4H ($0.00855), SMA25 4H ($0.01059). It is also below the daily SMA7 ($0.0121) and SMA25 ($0.01033). The only support left is the daily SMA99 at $0.00638.
๐ง Why This Trade?
Long/Short ratio at 1.11 โ nearly balanced, meaning there is no capitulation yet. When the crowd is evenly split during a downtrend, it usually means the selling has more room. Real bottoms form when everyone is short and nobody wants to buy.
๐ The Plan
โฌ๏ธ SHORT Entry: $0.00745 - $0.00833
๐ Stop Loss: $0.00966 (above SMA25 4H resistance)
๐ฏ TP1: $0.00722 | TP2: $0.00700 | TP3: $0.00670
TP3 targets the daily SMA99 โ the last major support before we enter unknown territory.
โ ๏ธ Low-cap token โ expect violent wicks. Keep position size small.
Oversold bounce or more pain ahead? What is your read on HEMI? ๐
#HEMI #CryptoTrading #DYOR
โ ๏ธ Disclaimer: Not financial advice. Low-cap tokens are extremely volatile. Always do your own research.