Struggling near recent highs… looks like a rejection setup forming.
$OG /USDT – SHORT
Trade Plan
Entry: $3.05 – $3.16
SL: $3.28
TP1: $2.98
TP2: $2.889
TP3: $2.75
Why This Setup?
4H Structure: Price approaching resistance at $3.167 but failing to break → early lower high formation. No strong continuation structure.
Price Positioning: Sitting just below resistance → ideal zone for shorts with clear invalidation above highs.
MA Context: Price likely extended near short-term averages → risk of pullback toward support zones.
RSI Behavior: RSI near mid-to-high zone → momentum slowing, not strong enough for breakout.
Volume Insight: No aggressive volume on breakout attempts → suggests weak buyer conviction near highs.
Daily Context: Still within a range. Unless $3.17 breaks cleanly, upside remains capped and pullback toward $2.88 is likely.
As long as $3.167 holds, downside toward lower liquidity zones remains the higher probability move.
Debate:
Is this a lower high before a drop toward $2.75…
Or will buyers break $3.17 and push into a new bullish leg?
Trade $OG here 👇
