$REQ 15.8x volume on a 2.6% drop — distribution signal or liquidity grab?
My bias remains bearish on $REQ #REQUSDT on the 1H. Price is printing lower highs and lower lows while trading below both EMAs. The rejection from 0.0581 after the 0.0530 sweep looks more like supply entering the market than a clean demand-driven reversal.
The key area to watch is 0.0562–0.0574. I want to see a failed reclaim of 0.0562 or rejection near 0.0574, followed by a bearish engulfing candle or 15M market-structure shift before considering a short.
Targets:
TP1: 0.0546
TP2: 0.0530
TP3: 0.0523
The setup is counter-trend against the bullish daily structure and BTC, so confirmation is essential. BTC sell-side pressure, rising OI and positive funding could add volatility to the move.
Invalidation: 1H close above 0.0576.
No chasing. Let the structure confirm first.
#REQ #CryptoTrading #Altcoins #TechnicalAnalysis #BinanceSquare $REQ
My bias remains bearish on $REQ #REQUSDT on the 1H. Price is printing lower highs and lower lows while trading below both EMAs. The rejection from 0.0581 after the 0.0530 sweep looks more like supply entering the market than a clean demand-driven reversal.
The key area to watch is 0.0562–0.0574. I want to see a failed reclaim of 0.0562 or rejection near 0.0574, followed by a bearish engulfing candle or 15M market-structure shift before considering a short.
Targets:
TP1: 0.0546
TP2: 0.0530
TP3: 0.0523
The setup is counter-trend against the bullish daily structure and BTC, so confirmation is essential. BTC sell-side pressure, rising OI and positive funding could add volatility to the move.
Invalidation: 1H close above 0.0576.
No chasing. Let the structure confirm first.
#REQ #CryptoTrading #Altcoins #TechnicalAnalysis #BinanceSquare $REQ