$AKE: Bearish Structure, but Is This Short Already Overextended?
AKE remains in a bearish 4H structure, with the supplied analysis placing price below both the EMA50 and EMA200.
However, there's a significant warning: the reported 4H RSI is just 13.3, suggesting extreme oversold conditions and an elevated risk of a sharp rebound.
AKE/USDT | SHORT
Entry: $0.0025258–$0.0025882
TP1: $0.0017493
TP2: $0.0012108
TP3: $0.0004031
Stop Loss: $0.0036339
The proposed management plan is to close 50% at TP1, 25% at TP2 and the remaining 25% at TP3, moving the stop to breakeven after TP1.
My assessment: The bearish structure supports the directional thesis, but the extreme oversold reading and wide stop make an immediate entry particularly risky.
I'd prefer a relief rally followed by confirmed rejection rather than chasing an extended decline.
Would you wait for a bearish retest or consider this setup too oversold to short?
$AKE
#CryptoTrading #altcoins
AKE remains in a bearish 4H structure, with the supplied analysis placing price below both the EMA50 and EMA200.
However, there's a significant warning: the reported 4H RSI is just 13.3, suggesting extreme oversold conditions and an elevated risk of a sharp rebound.
AKE/USDT | SHORT
Entry: $0.0025258–$0.0025882
TP1: $0.0017493
TP2: $0.0012108
TP3: $0.0004031
Stop Loss: $0.0036339
The proposed management plan is to close 50% at TP1, 25% at TP2 and the remaining 25% at TP3, moving the stop to breakeven after TP1.
My assessment: The bearish structure supports the directional thesis, but the extreme oversold reading and wide stop make an immediate entry particularly risky.
I'd prefer a relief rally followed by confirmed rejection rather than chasing an extended decline.
Would you wait for a bearish retest or consider this setup too oversold to short?
$AKE
#CryptoTrading #altcoins
