$NIGHT - SHORT Setup
Entry: 0.0780 – 0.0800 (On a rejection after retesting the breakdown level/resistance zone)
Target 1:0.0720
Target 2:0.0680
Stop Loss:0.0820 (Above the key swing high)
My View:
NIGHT is in a clear downtrend after its massive pump,now down over 10% today. The price has broken below all immediate support levels and is now in a weak consolidation bounce. This bounce is approaching a major resistance zone between $0.0780 and $0.0800, which aligns with previous support and the recent breakdown point. The chart shows a series of lower highs, and the momentum remains bearish. The order book indicates significant sell walls above the current price. The high-probability strategy is to short into this relief rally, anticipating a continuation of the downtrend and a retest of the recent low. Wait for a clear rejection candle for confirmation.
Bias: Bearish below $0.0800. A break and hold above $0.0820 would challenge the bearish view.
Disclaimer:My plan. Not advice. Trade your own risk.
#night