I didn't chase this SPACE on the initial dump; I’m waiting for a bounce to push the price back to a spot that’s ‘easy to sell’. Just now, it topped out around 0.0069, orders thickened but the push slowed down. At this pace, I prefer to stick to my plan and go short, not get swayed by emotions.
This trade is strictly one way: SPACEUSDT short on the bounce.
I’m entering at 0.0068158 - 0.0069122, with a stop-loss at 0.00706369.
I see three levels below: TP1 at 0.00665054, TP2 at 0.00655414, TP3 at 0.0064302.
Why am I still bearish:
Alpha rank is currently at #9, there's some heat but not overcrowded; 24h spot is down -15.10%, contracts are down -15.66%, both sides are weakening, not just a simple spike to scare us. Short-term 1h is down -0.54%, 4h is down -0.87%, and the bounce strength is limited. OI is at 366 million, with a change of +0.04%, indicating new positions are entering but not significantly, more of a tug-of-war than a strong trend reversal; funding at -0.0056% is negative, shorts are paying, which suggests there could be short-term bounce interference, but as long as we don’t breach the stop-loss level, the selling pressure logic remains intact. 24h trading volume is 8.0914 million, liquidity is enough to execute, but volatility may be quick, so I’m managing my position at medium risk.
I’ve clearly stated how to downgrade risk: if after entering, the price fails to break below 0.00665 for a while and keeps returning to the upper entry area, I’ll reduce my position; if it hits 0.00706369, I’ll just take the loss and exit this short trade.
Click the trade below $SPACE 👇
This trade is strictly one way: SPACEUSDT short on the bounce.
I’m entering at 0.0068158 - 0.0069122, with a stop-loss at 0.00706369.
I see three levels below: TP1 at 0.00665054, TP2 at 0.00655414, TP3 at 0.0064302.
Why am I still bearish:
Alpha rank is currently at #9, there's some heat but not overcrowded; 24h spot is down -15.10%, contracts are down -15.66%, both sides are weakening, not just a simple spike to scare us. Short-term 1h is down -0.54%, 4h is down -0.87%, and the bounce strength is limited. OI is at 366 million, with a change of +0.04%, indicating new positions are entering but not significantly, more of a tug-of-war than a strong trend reversal; funding at -0.0056% is negative, shorts are paying, which suggests there could be short-term bounce interference, but as long as we don’t breach the stop-loss level, the selling pressure logic remains intact. 24h trading volume is 8.0914 million, liquidity is enough to execute, but volatility may be quick, so I’m managing my position at medium risk.
I’ve clearly stated how to downgrade risk: if after entering, the price fails to break below 0.00665 for a while and keeps returning to the upper entry area, I’ll reduce my position; if it hits 0.00706369, I’ll just take the loss and exit this short trade.
Click the trade below $SPACE 👇