$RAY : Shakeout or Trend Reversal? My Bias Remains Bullish
RAY dropped 3.5% in just 15 minutes on 2.2x volume, but I see this move as a liquidity shakeout rather than a confirmed trend reversal.
The 1H, Daily, and Weekly structures are still printing Higher Highs and Higher Lows. After the recent push toward 1.77, this sharp sell-off looks more like a sweep of weak hands than smart-money distribution.
I would not chase shorts into the dump while price continues to hold above the last confirmed Higher Low. However, BTC remains bearish, making this a counter-trend long, so confirmation is important before adding.
My key demand and FVG zone sits around 1.4130–1.3825. I expect buyers to defend this area and potentially rotate price back above 1.5117 toward 1.7702 and the 1.7900 swing-high liquidity. If momentum remains strong, 2.0287 and 2.1885 become the next upside objectives.
Entry Zone: 1.4490–1.3825
Deeper Entry: 1.2274 only if price sweeps lower and quickly reclaims the level
Confirmation: Pin bar, bullish engulfing, or a 5–15M market structure shift
TP1: 1.5117
TP2: 1.7702
TP3: 1.7900
TP4: 2.0287
Stretch Target: 2.1885
The bullish bias remains valid unless RAY prints a confirmed 1H close below 1.2532. Until then, I remain focused on long opportunities rather than blindly fading the dip.
BTC's soft OI and mixed funding still need to be respected, so position sizing matters. A Bitcoin rollover could temporarily drag RAY lower even if its own structure remains bullish.
Patience over FOMO. Wait for the pullback, wait for confirmation, and let the market show its hand...
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