$GUN /USDT – A Potential Oversold Short Opportunity .
Trade Plan:
$GUN – SHORT
Entry Zone: We're looking to enter a short position between 0.023447 – 0.023713. This zone targets a prime area before further potential declines.
Stop Loss (SL): A strict stop loss is set at 0.024375 to manage risk and protect against unexpected upward reversals.
Take Profit (TP) Levels:
TP1: 0.022785 – The initial target, aligning with immediate support.
TP2: 0.02252 – A more extended target, anticipating further bearish momentum.
TP3: 0.02199 – The ambitious target, projecting a significant move downwards.
Why This Setup?
Several factors contribute to this bearish outlook:
4H SHORT Signal: The 4-hour chart is currently armed with a confirmed short signal, indicating a higher timeframe bias towards depreciation.
Extreme RSI: The 15-minute Relative Strength Index (RSI) is at an exceptionally low 22.28. Such extreme oversold readings often precede a sharp, corrective move or a continuation of the downtrend as sellers remain in control.
Daily Range Compression: The daily price action shows significant compression, pushing
$GUN /USDT into a critical decision zone. With the current technicals, a breakdown seems more probable than a breakout upwards.
Analysis by
@SaleeM_MeYo #Binance #BinanceSquareFamily #BinanceSquareTalks #GUN #CPIWatch $GUN