$1000SHIB: Don’t buy the dip just yet—the key is whether the rebound can hold
Short-term momentum is weak, and the uptick in price hasn’t turned things around. The candle that just closed briefly reached the resistance above, but closed back below it, with noticeably lower volume. Price tried to push higher but didn’t get far.
The bias is bearish, but chasing the drop here isn’t ideal. Next, watch where the candle closes after a rebound tests resistance: if price falls back again, there may be a basis for a short; if it holds above resistance, put the short trade on hold.
First, wait for a 15-minute candle to close below 0.005049. Only if the rebound fails will there be an entry for a short.
The long/short divide is at 0.005049, with a reference stop-loss at 0.00506936. Which do you think will be hit first this time: 0.00500829 or the stop-loss level?
#MemeCoins
Short-term momentum is weak, and the uptick in price hasn’t turned things around. The candle that just closed briefly reached the resistance above, but closed back below it, with noticeably lower volume. Price tried to push higher but didn’t get far.
The bias is bearish, but chasing the drop here isn’t ideal. Next, watch where the candle closes after a rebound tests resistance: if price falls back again, there may be a basis for a short; if it holds above resistance, put the short trade on hold.
First, wait for a 15-minute candle to close below 0.005049. Only if the rebound fails will there be an entry for a short.
The long/short divide is at 0.005049, with a reference stop-loss at 0.00506936. Which do you think will be hit first this time: 0.00500829 or the stop-loss level?
#MemeCoins