LAB is not a safe bounce despite the recent squeeze.
🔴 SHORT $LAB /USDT: expecting price to go DOWN Bias: SHORT · Leaning
Entry: 0.0440866 – 0.0445734 TP1: 0.0403497 (-9.0%) TP2: 0.0376961 (-15.0%) TP3: 0.0337158 (-23.9%) SL: 0.0496371 (+12.0%) Plan: enter only inside the zone, close 50% at TP1, 25% at TP2, 25% at TP3, and move the stop to entry after TP1. Note: moderate conviction only, keep size light.
Why SHORT? 4/12 signals agree, 0 against. • Daily trend down (below EMA50 & EMA200) • Sellers are driving the move (15m ADX 45.7) • BTC is falling, this coin follows (corr 0.71)
LAB in 3 points: 1. The daily trend is bearish, price sits below key moving averages on the big chart. 2. The 1h RSI is 35.6, which means sellers are driving the momentum right now. 3. A push back above 0.0445734 would break the setup and force a rethink.
Where are you taking profit if you are short here?
Chart with every level below.
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