$TAKE — Liquidity Hunt at Resistance: Are the Bears Ready for Round 2?
Short TAKE
Entry: $0.0215 – $0.0225
Stop Loss: $0.0242
Targets:
TP1: $0.0185
TP2: $0.0160
TP3: $0.0135
$TAKE is flashing a textbook "exhaustion rally" after the brief relief bounce from the $0.0176 wick low. While retail is busy trying to catch the bottom, the order book shows a significant "Liquidity Grab" at the $0.022 local resistance. This 1H/4H price action suggests that the "Bulls' strength" is merely a trap to build liquidity for the next leg down.
Despite the temporary bounce, the broader market remains in a heavy "risk-off" phase. The RSI is currently cooling off from oversold levels, but it is hitting a wall at the neutral 50-line—signaling that the bears are simply reloading. This stabilization is a classic "Sell the Rip" opportunity before the trend continuation.
The price is struggling to maintain its footing above the local pivot. As long as the $0.023 resistance holds firm, the path of least resistance is toward a deeper correction. Don't be the one buying the top of a relief rally in a macro downtrend!
Manage your risk, stay disciplined, and watch the sell volume on the breakdown!
Trade $TAKE here 👇🏻
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