$POWER 💥
$POWER bleeding at 5.5%, bounce incoming?
- Given the extreme dump and volume spike, I expect more volatility in the short term. While the trend is bearish and more downside is possible, this is not the best place to open a new short—it’s very likely sellers are taking profit and late shorts may get trapped.
- If price bounces weakly to the 0.07837–0.07931 zone and forms a bearish reversal candle (for example, a strong rejection wick or bearish engulfing), that could be a high-probability short entry. Entry example: short from 0.07900–0.07931 after a clear rejection, targeting 0.07400 and 0.07370. Place your stop-loss above the swing high of the rejection candle at resistance.
- If price continues down and sweeps below 0.07370, watch for a sharp reclaim and a powerful bullish reversal on lower timeframes (like a 5m or 1m engulfing candle, or bullish divergence). You could consider a tactical long if you see strong buying step in, with targets at 0.07837 and 0.07931. Stop-loss should be below the new swing low.
- If price closes convincingly above 0.08128, that would signal potential momentum shift and you should abandon short bias.
- Wait for confirmation at key levels—don’t blindly enter in the middle of a panic move.
📝 This is not investment advice, just an educational analysis based on current price action and smart money concepts. Be patient and wait for confirmation before entering any trade!
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#POWER