The HYPE strategy I shared earlier has now successfully taken profit this round. This isn't a reversal—it's accumulation speaking. On the 4-hour chart, $LAB is still trading below EMA50 and EMA200. The bearish moving average alignment remains intact, and the medium-term structure is still bearish. The current modest bounce is accompanied by subdued volume, looking more like a corrective pause within the downtrend than a trend reversal.
The cluster of moving averages overhead is acting as resistance. The closer the bounce gets to it, the more likely it is to meet resistance and pull back. Sellers are still in control of the pace. I'm watching for another move down to test the previous low after the bounce loses momentum. Until the structure improves, the bearish outlook remains the more favorable one.
🔴 Trade direction: Short
📍 Entry range: 0.0425203 – 0.0426909
🛑 Stop loss: 0.0443249
🎯 Take profit 1: 0.0413161
🎯 Take profit 2: 0.0404564
🎯 Take profit 3: 0.0391670
Take in the vastness of mountains and seas; observe the market's finer details.
Trade alongside Uncle Xiong and witness the gains and losses of the world.
#LAB
Click below to trade 👇
The cluster of moving averages overhead is acting as resistance. The closer the bounce gets to it, the more likely it is to meet resistance and pull back. Sellers are still in control of the pace. I'm watching for another move down to test the previous low after the bounce loses momentum. Until the structure improves, the bearish outlook remains the more favorable one.
🔴 Trade direction: Short
📍 Entry range: 0.0425203 – 0.0426909
🛑 Stop loss: 0.0443249
🎯 Take profit 1: 0.0413161
🎯 Take profit 2: 0.0404564
🎯 Take profit 3: 0.0391670
Take in the vastness of mountains and seas; observe the market's finer details.
Trade alongside Uncle Xiong and witness the gains and losses of the world.
#LAB
Click below to trade 👇