The higher timeframe still looks bullish, but the 4H chart is flashing a potential short opportunity on HYPE.
$HYPE /USDT – SHORT SETUP
📍 Entry: 70.642 – 70.993
🛑 Stop Loss: 72.504
🎯 TP1: 69.553
🎯 TP2: 68.710
🎯 TP3: 67.446
Why consider the short?
The daily trend remains bullish, but lower timeframes are showing signs of exhaustion. The 1H RSI has pushed into overbought territory at 70.8, while the 15-minute RSI has already rolled over to 43.2, signaling weakening momentum.
Price is struggling to break above the 70.818 resistance zone, and ATR suggests volatility is elevated enough for a sharp pullback. This setup resembles a classic bull-trap scenario, with 69.554 acting as the first downside target.
$HYPE /USDT – SHORT SETUP
📍 Entry: 70.642 – 70.993
🛑 Stop Loss: 72.504
🎯 TP1: 69.553
🎯 TP2: 68.710
🎯 TP3: 67.446
Why consider the short?
The daily trend remains bullish, but lower timeframes are showing signs of exhaustion. The 1H RSI has pushed into overbought territory at 70.8, while the 15-minute RSI has already rolled over to 43.2, signaling weakening momentum.
Price is struggling to break above the 70.818 resistance zone, and ATR suggests volatility is elevated enough for a sharp pullback. This setup resembles a classic bull-trap scenario, with 69.554 acting as the first downside target.