$D - SHORT Setup
Entry: 0.0165 – 0.0170 (On a rejection after retesting the breakdown level/resistance zone)
Target 1:0.0150
Target 2:0.0140
Stop Loss:0.0175 (Above the key swing high)
My View:
D is in a clear downtrend,having broken down sharply from the $0.01875 high. The price is currently in a weak relief bounce, approaching a major resistance zone between $0.0165 and $0.0170. This area was previous support and is now likely to act as new resistance. The chart shows a series of lower highs, and the momentum remains bearish. The order book indicates significant sell walls above the current price. The high-probability strategy is to short into this bounce, anticipating a continuation of the primary downtrend towards the next support level. Wait for a clear rejection candle in the resistance zone for confirmation.
Bias: Bearish below $0.0170. A break and hold above $0.0175 would be needed to reconsider.
Disclaimer:My plan. Not advice. Trade your own risk.
