Guys, I’m opening a BIG SHORT on $LAB here.
Entry: $0.04490 (Current Price)
TP1: $0.04450
TP2: $0.04406
TP3: $0.04344
SL: $0.04540 👇🏻
I know exactly what most people are thinking right now: price is bouncing on the 15m chart and everyone is trying to call the bottom.
But look at the bigger picture. The 90-day chart is down over 67%, and the 1-year is down 71%. The trend is heavy, and this current bounce is looking incredibly weak right under the $0.04513 resistance.
Look at what’s sitting below us. There is a massive amount of long-side liquidity sitting right at the 24h low of $0.04406, and even more resting down at the $0.04344 level. When too many traders start leaning the same way, trying to catch a falling knife, the market loves doing the opposite first.
That’s why I’m not interested in buying this green candle here. Price is failing to reclaim the mid-range, and as long as that $0.04513 area keeps rejecting us, I think $LAB has a very real chance to dump back down and sweep those late longs.
This is exactly the kind of setup I like: crowd is trying to buy support, longs are getting crowded, and liquidity is sitting below.
Now let’s see if $LAB does what it usually does… move exactly where most people are not expecting.
Click here to trade 👇⬇️
Entry: $0.04490 (Current Price)
TP1: $0.04450
TP2: $0.04406
TP3: $0.04344
SL: $0.04540 👇🏻
I know exactly what most people are thinking right now: price is bouncing on the 15m chart and everyone is trying to call the bottom.
But look at the bigger picture. The 90-day chart is down over 67%, and the 1-year is down 71%. The trend is heavy, and this current bounce is looking incredibly weak right under the $0.04513 resistance.
Look at what’s sitting below us. There is a massive amount of long-side liquidity sitting right at the 24h low of $0.04406, and even more resting down at the $0.04344 level. When too many traders start leaning the same way, trying to catch a falling knife, the market loves doing the opposite first.
That’s why I’m not interested in buying this green candle here. Price is failing to reclaim the mid-range, and as long as that $0.04513 area keeps rejecting us, I think $LAB has a very real chance to dump back down and sweep those late longs.
This is exactly the kind of setup I like: crowd is trying to buy support, longs are getting crowded, and liquidity is sitting below.
Now let’s see if $LAB does what it usually does… move exactly where most people are not expecting.
Click here to trade 👇⬇️
