You’re looking at Cardano perpetual futures on a 15-minute chart, and the structure is weak right now.
What I see from the chart:
Strong bearish momentum candle just broke below the lower Bollinger Band.
RSI(6) around 10 = heavily oversold.
Stoch RSI also near zero.
Price dumped from the mid-band area around 0.2612 toward 0.2585 quickly.
That usually means one of two things:
continuation dump after a weak bounce, or
short-term relief bounce before another leg down.$BILL
Because the candle is already extended downward, chasing a short at the bottom is risky. The higher-probability futures setup here is usually a bounce rejection short, not panic entry.
Best setup from this chart:
Short Setup (safer probability)
Entry zone:
0.2600 – 0.2612
This is where:
lower Bollinger recovery can happen
previous support becomes resistance
EMA/mid-band area sits
Stop loss:
0.2628 above recent structure
Targets:
TP1: 0.2580
TP2: 0.2565
TP3: 0.2540 if market stays weak
Risk management:
Use low leverage (3x–5x)
Risk only 1–2% account per trade
Don’t short large red candles directly
Bullish reversal setup (only if confirmed)
Take a long only if:
price reclaims 0.2612 strongly
RSI recovers above 30
bullish engulfing candle appears on 15m
Then possible long targets:
0.2627
0.2645
Invalidation:
close below 0.2580
The important part: this chart is not giving a clean long yet. Oversold does not automatically mean reversal. In strong down momentum, RSI can stay crushed for a while.
A disciplined trader usually waits for:
bounce → rejection → short entry, instead of entering emotionally after the dump.THORChainHackCauses$10.7MLoss#SpaceXEyesJune12NasdaqListing #VitalikMovesETHviaPrivacyPools #StriveQ1Results15009BTCHoldings #VitalikMovesETHviaPrivacyPools #NakamotoQ1Revenue500PercentGrowth