Guys, I’m opening a BIG SHORT on $GRASS here.
Entry: $0.5380 (Current Price)
TP1: $0.5320
TP2: $0.5250
TP3: $0.5182
SL: $0.5493 👇🏻
I know exactly what most people are thinking right now: it's had a massive run over the past 90 days and everyone is trying to catch this dip.
But look at what’s happening on the smaller timeframe. The 15m chart is bleeding. We've had a series of aggressive red candles, and this weak little bounce is struggling to reclaim the mid-range.
Look at what’s sitting below us. There is a massive amount of long-side liquidity sitting right at the 24h low of $0.5320, and a heavy cluster of stop-losses resting down at the $0.5182 level. When too many traders start leaning the same way, trying to buy every dip, the market loves doing the opposite first.
That’s why I’m not interested in going long here. Price is failing to hold the $0.5410 resistance level, and as long as that area keeps rejecting us, I think $GRASS 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 call the bottom, longs are getting crowded, and liquidity is sitting below.
Now let’s see if $GRASS does what it usually does… move exactly where most people are not expecting.
Entry: $0.5380 (Current Price)
TP1: $0.5320
TP2: $0.5250
TP3: $0.5182
SL: $0.5493 👇🏻
I know exactly what most people are thinking right now: it's had a massive run over the past 90 days and everyone is trying to catch this dip.
But look at what’s happening on the smaller timeframe. The 15m chart is bleeding. We've had a series of aggressive red candles, and this weak little bounce is struggling to reclaim the mid-range.
Look at what’s sitting below us. There is a massive amount of long-side liquidity sitting right at the 24h low of $0.5320, and a heavy cluster of stop-losses resting down at the $0.5182 level. When too many traders start leaning the same way, trying to buy every dip, the market loves doing the opposite first.
That’s why I’m not interested in going long here. Price is failing to hold the $0.5410 resistance level, and as long as that area keeps rejecting us, I think $GRASS 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 call the bottom, longs are getting crowded, and liquidity is sitting below.
Now let’s see if $GRASS does what it usually does… move exactly where most people are not expecting.
