Setup short $RSR
Entry: 0.0024
TP: 0.0021-0.0022
SL: 0.0026
Why short?
We’re seeing a strong move to the downside after price formed a relatively high top. There is still a large concentration of short positions above, but the current upward momentum does not look strong enough to break the previous high.
At the moment, the probability of a move lower looks higher than the probability of continued upside.
However, if strong buying volume starts to appear, we can consider flipping the position, since there are still a lot of shorts sitting above.
Entry: 0.0024
TP: 0.0021-0.0022
SL: 0.0026
Why short?
We’re seeing a strong move to the downside after price formed a relatively high top. There is still a large concentration of short positions above, but the current upward momentum does not look strong enough to break the previous high.
At the moment, the probability of a move lower looks higher than the probability of continued upside.
However, if strong buying volume starts to appear, we can consider flipping the position, since there are still a lot of shorts sitting above.