Trade setup 🎯$NEIRO (short)
Entry Zone: 0.00012050 – 0.00012150
TP1: 0.00011760
TP2: 0.00011380
Stop Loss: 0.00012450
Leverage: 10x – 20x
Margin: 3% – 5%
NEIRO has experienced a sharp rejection from the 0.00013316 resistance level. This move was characterized by high-volume selling and several consecutive bearish candles, indicating strong distribution. The price tried to find a floor around the 0.00012100 area, but this support has now been breached and is acting as a new resistance zone.
Currently, the price is consolidating in a tight range with weak buying pressure. The volume is declining on the green candles, suggesting that the recent bounce is merely a "dead cat bounce" or a retest of the breakdown level. As long as the price remains below the 0.00012200 level, the bearish structure remains intact, and a continuation toward the previous lows is highly probable.
Note: A sustained hourly close above 0.00012430 would invalidate this bearish outlook and suggest a shift in momentum back to the buyers.
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