$PYTH: Fakeout Confirmed: Bulls Trapped at Local Highs
SHORT SETUP PYTH
Entry: $0.09050 - $0.09075
Stop Loss: $0.09396
Take Profit: $0.08396 (2R)
Key Levels: Support $0.08474 | Resistance $0.09075
Technical Analysis for $PYTH: MACD sits below its signal with a negative histogram, while Stochastic K is deep in overbought territory. Price is nudging the upper Bollinger band and sits just under the 1hour resistance at 0.09075. A -16% orderbook imbalance and weak ADX (~21) point to shortterm downside pressure, favoring a short bias.
Market Context: BTC is in a bearish 4hour trend and 24hour price is down 0.07%, while overall market breadth is broadly negative (76% red).
SHORT $PYTH
SHORT SETUP PYTH
Entry: $0.09050 - $0.09075
Stop Loss: $0.09396
Take Profit: $0.08396 (2R)
Key Levels: Support $0.08474 | Resistance $0.09075
Technical Analysis for $PYTH: MACD sits below its signal with a negative histogram, while Stochastic K is deep in overbought territory. Price is nudging the upper Bollinger band and sits just under the 1hour resistance at 0.09075. A -16% orderbook imbalance and weak ADX (~21) point to shortterm downside pressure, favoring a short bias.
Market Context: BTC is in a bearish 4hour trend and 24hour price is down 0.07%, while overall market breadth is broadly negative (76% red).
SHORT $PYTH