$ONDO short setup. Open interest -8.5% in 24h while price moved -3.9%.
My take: positions are being closed and leverage is flushing out. Reject 0.400 and it can run. Reclaim 0.410 and the idea's dead.
SHORT zone 0.3979–0.3998 | targets 0.3919, 0.3873, 0.3804 | stop 0.4104
Behind it:
• 4H at 0.399, below the EMA50 at 0.415, the trend is on this side
• Risk 2.9% to SL vs 4.6% to TP3 · about 1.6R if the full move plays out
• BTC bearish on the short term, a tailwind for this idea
Clean bounce from here, or one more sweep first?
nfa · dyor
My take: positions are being closed and leverage is flushing out. Reject 0.400 and it can run. Reclaim 0.410 and the idea's dead.
SHORT zone 0.3979–0.3998 | targets 0.3919, 0.3873, 0.3804 | stop 0.4104
Behind it:
• 4H at 0.399, below the EMA50 at 0.415, the trend is on this side
• Risk 2.9% to SL vs 4.6% to TP3 · about 1.6R if the full move plays out
• BTC bearish on the short term, a tailwind for this idea
Clean bounce from here, or one more sweep first?
nfa · dyor
