🚨 $SIREN /USDT Short Setup: Bearish Correction in Play! 📉
The 1H chart for $SIREN is showing signs of exhaustion after an explosive run-up to the $0.46888 level. We are currently seeing a strong rejection and a shift in momentum, with the price dropping 5.70% and breaking below local support structures.
Here is the trade plan to capitalize on this retracement:
📊 Trade Setup: SHORT
Pair: SIREN/USDT (Perp)
Timeframe: 1H
🎯 Entry Zone: * $0.39436 (CMP) - $0.40500 * Tip: You can scale in at the current market price or look for a slight relief bounce into the $0.40+ area for a better average entry.
💰 Take Profit (TP) Targets:
Using the clear support zones visible on the chart's drop-down levels:
TP 1: $0.37339 (Immediate support level)
TP 2: $0.31953 (Mid-level retracement target)
TP 3: $0.26566 (Deep correction support)
🛑 Stop Loss (SL):
$0.42800 * Placing the SL just above the previous structural breakdown line (around the $0.42726 grid line) invalidates the short if the bulls manage to reclaim that high ground.
The 1H chart for $SIREN is showing signs of exhaustion after an explosive run-up to the $0.46888 level. We are currently seeing a strong rejection and a shift in momentum, with the price dropping 5.70% and breaking below local support structures.
Here is the trade plan to capitalize on this retracement:
📊 Trade Setup: SHORT
Pair: SIREN/USDT (Perp)
Timeframe: 1H
🎯 Entry Zone: * $0.39436 (CMP) - $0.40500 * Tip: You can scale in at the current market price or look for a slight relief bounce into the $0.40+ area for a better average entry.
💰 Take Profit (TP) Targets:
Using the clear support zones visible on the chart's drop-down levels:
TP 1: $0.37339 (Immediate support level)
TP 2: $0.31953 (Mid-level retracement target)
TP 3: $0.26566 (Deep correction support)
🛑 Stop Loss (SL):
$0.42800 * Placing the SL just above the previous structural breakdown line (around the $0.42726 grid line) invalidates the short if the bulls manage to reclaim that high ground.