$RAVE - SHORT Setup
Entry: 0.6000 – 0.6200 (On a clear rejection at the resistance zone following the pump)
Target 1:0.5200
Target 2:0.4800
Stop Loss:0.6350 (Above the swing high)
My View:
RAVE has experienced a massive,+100% pump in 7 days, pushing it into a parabolic move. The price is now in a corrective pullback after being rejected from the $0.6822 high. Such explosive rallies are unsustainable and typically correct sharply as profit-taking intensifies. The chart shows the price is still extended from any meaningful support. This is a mean reversion play. The valid short entry is on clear evidence that the relief rally is failing—a rejection in the $0.60–$0.62 supply zone (previous support turned resistance) with a bearish reversal candle. No blind entries.
Bias: Bearish for a deeper correction. Bullish trend invalidated below key support.
Disclaimer:High risk. My plan. Not advice. Trade your own risk.
