$HYPE /USDT — High-volume plunge from the highs; short the rebound after the breakdown
Current price: 79.15. Price quickly broke down from around 83.00, with a large bearish candle on heavy volume breaking below support. The rebound failed to reclaim key levels, and successive highs have been lower, weakening the short-term trend. Although buyers have the upper hand, the price continues to fall, indicating insufficient buying support and a likely bull trap. Strong resistance has formed at 80.50–81.00; maintain a bearish outlook unless price reclaims this zone.
Direction: Short
Entry: 79.80–80.20
Take profit 1: 78.50・Take profit 2: 77.50・Take profit 3: 76.50
Stop loss: 80.80
Reason: A high-volume drop from the highs is not a shakeout; it is capital taking profits and exiting. A small rebound after a sharp drop does not change the bearish trend. Favor shorting with the trend unless price reclaims the stop-loss level on strong volume. A break below 78.50 support would open the way for another leg down. #Binance
Current price: 79.15. Price quickly broke down from around 83.00, with a large bearish candle on heavy volume breaking below support. The rebound failed to reclaim key levels, and successive highs have been lower, weakening the short-term trend. Although buyers have the upper hand, the price continues to fall, indicating insufficient buying support and a likely bull trap. Strong resistance has formed at 80.50–81.00; maintain a bearish outlook unless price reclaims this zone.
Direction: Short
Entry: 79.80–80.20
Take profit 1: 78.50・Take profit 2: 77.50・Take profit 3: 76.50
Stop loss: 80.80
Reason: A high-volume drop from the highs is not a shakeout; it is capital taking profits and exiting. A small rebound after a sharp drop does not change the bearish trend. Favor shorting with the trend unless price reclaims the stop-loss level on strong volume. A break below 78.50 support would open the way for another leg down. #Binance