Guys, is $IRYS still preparing for another leg up, or are late buyers about to get caught at the top? 👀🔥
I’m watching a potential BIG SHORT setup on $IRYS here.
🎯 TP: $0.020
🛑 SL: :$0.045
$IRYS is still showing bullish momentum after its recent pump, but I’m getting cautious as price moves into a major higher-timeframe resistance zone.
What really catches my attention is the possibility of increasing selling pressure while retail traders continue chasing the move. If that divergence continues, this rally could become vulnerable to a sharp reversal.
🔥 Why am I watching the short side?
The market is focused on how far IRYS coin has pumped, but I’m looking at whether buyers can sustain this momentum at resistance. If sellers continue absorbing buying pressure and the breakout fails, we could see a fast move toward lower levels.
Of course, I’m not ruling out another squeeze or a fake breakout before any downside move develops. This coin is extremely volatile, so timing and risk management are critical.
My main focus is whether this resistance zone holds and whether selling pressure continues to increase. A confirmed rejection could create an opportunity for a move toward $0.020.
👀 Everyone is chasing the green candles, but I’m watching for signs that the rally is losing strength.
#IRYSUSDT #IRYSUpdate #BitcoinHashrateHitsSevenMonthHigh #EthereumHoodiTestnetGlamsterdamHardForkDelayed
I’m watching a potential BIG SHORT setup on $IRYS here.
🎯 TP: $0.020
🛑 SL: :$0.045
$IRYS is still showing bullish momentum after its recent pump, but I’m getting cautious as price moves into a major higher-timeframe resistance zone.
What really catches my attention is the possibility of increasing selling pressure while retail traders continue chasing the move. If that divergence continues, this rally could become vulnerable to a sharp reversal.
🔥 Why am I watching the short side?
The market is focused on how far IRYS coin has pumped, but I’m looking at whether buyers can sustain this momentum at resistance. If sellers continue absorbing buying pressure and the breakout fails, we could see a fast move toward lower levels.
Of course, I’m not ruling out another squeeze or a fake breakout before any downside move develops. This coin is extremely volatile, so timing and risk management are critical.
My main focus is whether this resistance zone holds and whether selling pressure continues to increase. A confirmed rejection could create an opportunity for a move toward $0.020.
👀 Everyone is chasing the green candles, but I’m watching for signs that the rally is losing strength.
#IRYSUSDT #IRYSUpdate #BitcoinHashrateHitsSevenMonthHigh #EthereumHoodiTestnetGlamsterdamHardForkDelayed