$S : Open Interest Drops Rapidly: Long Squeeze Underway
SHORT SETUP S
Entry: $0.04530 - $0.04550
Stop Loss: $0.04700
Take Profit: $0.04220 (2R)
Key Levels: Support $0.03955 | Resistance $0.04641
Technical Analysis for $S : However, RSI 71.9 and Stochastic 86 signal overbought conditions. A short entry around 0.0454 targets the 0.0422 zone, with SL near 0.0470. Watch a break above 0.0465 to invalidate. SHORT bias targets continuation toward support, with resistance as the invalidation level. The stop loss defines the risk level for this setup.
Market Context: BTC is up 1.9% on the day, keeping the broader market broadly positive.
SHORT $S
SHORT SETUP S
Entry: $0.04530 - $0.04550
Stop Loss: $0.04700
Take Profit: $0.04220 (2R)
Key Levels: Support $0.03955 | Resistance $0.04641
Technical Analysis for $S : However, RSI 71.9 and Stochastic 86 signal overbought conditions. A short entry around 0.0454 targets the 0.0422 zone, with SL near 0.0470. Watch a break above 0.0465 to invalidate. SHORT bias targets continuation toward support, with resistance as the invalidation level. The stop loss defines the risk level for this setup.
Market Context: BTC is up 1.9% on the day, keeping the broader market broadly positive.
SHORT $S