$COMMON/USDT LONG TRADE SETUP
$COMMON is currently trading at 0.001803, showing signs of a potential bottom after a massive 97% correction from its all-time high. While the delisting of the Futures Perpetual Contract on January 30th has caused significant panic selling, the spot price is approaching a historical "oversold" zone on the 4H and Daily timeframes. Buyers are beginning to step in near the 0.00175 support level, anticipating a relief rally or "short squeeze" as traders close out their shorts before the futures market closes.
Target Points
TP1: 0.00220 (Immediate resistance/relief level)
TP2: 0.00270 (Major liquidity zone)
TP3: 0.00315 (24h high retest)
Stop Loss
SL: 0.00160 (Below the current all-time low to mitigate risk from final delisting liquidations)
Trade Insight: This is a high-risk "counter-trend" setup. The up
coming delisting of the futures contract often leads to a spike in price as short positions are forced to buy back the asset to close their trades. Keep position sizes small.
Buy and Trade here on $COMMON
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