💥 BARD/USDT: Overbought at the peak — time for a short?
BARD/USDT shows a strong upward momentum: the price soared to 1.0559, gaining 24.91% in a short period. However, extreme RSI and Stochastic readings warn of a high probability of a soon-to-come correction.
🚨Brief overview of indicators
EMA21 — 0.8897, EMA50 — 0.8541: the price is significantly above the averages → overheating.
RSI (14): 90.51 — strong overbought condition.
MACD: 0.0196 — momentum is slowing down.
Stochastic: 100 — the market is ready for a pullback.
💰Trading plan (main scenario — short)
A correction seems to be the most likely development.
🎯Targets:
1.0200 — +3.70%
1.0000 — +5.60%
0.9600 — +9.10%
➡️Entry points:
Conservative entry: 1.0500 after confirmation of reversal.
Aggressive entry: current level 1.0559.
⛔️Stop-loss:
Aggressive entry: 1.0820
Conservative entry: 1.0700
📌Conclusion: the market is overheated, indicators are synchronously hinting at a correction. Watch for weakening momentum and enter according to plan.
Spot trading 👉$BARD
Futures 👇
