COCOS is currently sweeping the Order Block zone, a crucial level that's been tested multiple times, and I'm calling it - this is the perfect opportunity to short. The higher time frame is bearish, and the recent price action is only reinforcing this notion. The RSI is at 56, indicating that we're not oversold just yet, and the volume is 2.5x, showing that there's still plenty of interest in this coin.
From a technical analysis perspective, we're seeing a clear downward trend, with the price struggling to break above the current resistance level. The SMC Score is at 6.8/10, which suggests that the smart money is also bearish on this coin.
Here are the key trade levels:
- Entry: 1.7540
- TP1: 1.6798 (RR 2.4x)
- TP2: 1.5684 (RR 6.1x)
- SL: 1.7847
I'm shorting $COCOSUSDT at 1.754, with a tight stop loss in place, targeting 1.6798. The risk-reward ratio is looking good, and I'm confident that we'll see a downward move soon.
Followers, get ready to ride this wave - let's make some profits. #BinanceSquare #COCOS #CryptoSignals #Futures #SmartMoney