$CYBER - SHORT Setup
Entry: 0.7200 – 0.7230 (On rejection from this resistance zone)
Target 1:0.7100
Target 2:0.7050
Stop Loss:0.7250 (Above the 24h high)
My View:
CYBER is entrenched in a severe and persistent downtrend across all major timeframes,with catastrophic losses over the past year (-76.99%) and 90 days (-58.27%). The price is currently in a weak retracement, approaching a defined supply area. This zone is capped by the 24h high (0.7309) and aligns with a prior breakdown level. The order book shows a dominant Ask volume (57.31%), indicating significant selling pressure is stacked just above the current price. Price action shows a clear breakdown structure, and the current bounce lacks the momentum to challenge the established bear trend, appearing corrective. The plan is to enter a short position on a confirmed rejection from the defined resistance area, anticipating a continuation of the primary downtrend towards the 24h low and potentially lower support levels.
Bias: Bearish below 0.7230. A break and hold above 0.7250 would indicate a stronger corrective bounce is in play.
Disclaimer:My plan. Not advice. Trade your own risk.
