📉 1000BONK Short Setup in Focus 🔻
Trading Plan:
Bias: Short
Entry: 0.008700 - 0.008500
SL: 0.009600
TP1–TP3: 0.008000 / 0.007500 / 0.006500
Technical Analysis:
The asset exhibits a persistent bearish trend on the daily timeframe, consistently trading below the EMA ribbon and the Supertrend indicator. The price is currently in a consolidation phase following a prolonged downtrend. A rejection from the dynamic resistance formed by the middle Bollinger Band and the short-term EMAs (around 0.0090-0.0094) would reinforce the bearish bias. A definitive daily candle close below the immediate support level of 0.008600 would serve as the primary confirmation signal for the next leg down.
Invalidation:
Only a break above the recent swing high and resistance cluster at 0.009600 would invalidate this short-term bearish setup.
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