4-hour trend shows bearish sentiment, with price facing strong rejection near the supply zone around $0.009128, failing to make new highs. This indicates that sellers have gained the upper hand, confirming the bearish structure.
The trigger signal originates from smaller time frames, such as the 1-hour chart. The price has decisively broken below the key Exponential Moving Average (EMA), while the Relative Strength Index (RSI) has also fallen below the 50 midline, indicating strong downward momentum. The current price decline is a direct result of momentum exhaustion and trend reversal. Entering a short position now is high probability, as we are aligning with the main forces of the market, targeting the demand area (support level) below.
Immediate execution setup (short)
Entry: Market price 0.008388
Take profit 1: 0.007843
Take profit 2: 0.007551
Take profit 3: 0.007200
Stop loss: 0.008650
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