Don’t let the points giveaway distract you—the breakout is the main story. $PORTAL Both the 4-hour and 1-hour charts are below the moving averages, and the bearish alignment remains intact. In this kind of structure, a rebound just gives you a better spot to open a short. The daily chart looks range-bound, but sellers have the edge on shorter timeframes, and the RSI isn’t oversold yet. There’s less resistance to a move down than to a move up.
The key is the moving average overhead. If price can’t rally back above it and volume doesn’t pick up, the structure remains bearish. For the setup to be invalidated, we need to see whether the 1-hour chart can hold above that level. If it can’t, the bears are still in control. In this market, I’d lean toward trading with the short-term trend rather than fighting the daily chart’s range.
🔴 Trade direction: Short
📍 Entry range: 0.0147666 – 0.0148048
🛑 Stop loss: 0.0151818
🎯 Take profit 1: 0.0144887
🎯 Take profit 2: 0.0142906
🎯 Take profit 3: 0.0139935
Gaze upon the vast mountains and seas; observe the market’s subtle shifts.
Trade alongside Uncle Xiong, and witness the gains and losses of the world.
#PORTAL
Click below to trade 👇
The key is the moving average overhead. If price can’t rally back above it and volume doesn’t pick up, the structure remains bearish. For the setup to be invalidated, we need to see whether the 1-hour chart can hold above that level. If it can’t, the bears are still in control. In this market, I’d lean toward trading with the short-term trend rather than fighting the daily chart’s range.
🔴 Trade direction: Short
📍 Entry range: 0.0147666 – 0.0148048
🛑 Stop loss: 0.0151818
🎯 Take profit 1: 0.0144887
🎯 Take profit 2: 0.0142906
🎯 Take profit 3: 0.0139935
Gaze upon the vast mountains and seas; observe the market’s subtle shifts.
Trade alongside Uncle Xiong, and witness the gains and losses of the world.
#PORTAL
Click below to trade 👇