$ESPORTS This wave has been a bit too aggressive on the 30-minute timeframe.
Current price 0.1171, already hit a new high range for the 28th.
🚨 The key right now is to absolutely avoid chasing the last leg.
Price has deviated from EMA144 by 102.28%, there's immense mean reversion pressure.
RSI shot up to 77.32, high volume at 6.66x, showing signs of momentum decay.
Although the bullish structure hasn't broken down yet, chasing the pump at this level has extremely low cost-effectiveness.
📉 Next, keep an eye on whether it can hold around 0.1171.
Upper defense level is at 0.11999, if we break that logic, we'll need to reassess.
Short-term, a deep correction could trigger anytime, waiting for a clearer confirmation.
Add it to the watchlist, let's see if it can hold.
Trading plan (short):
Entry: 0.11706 – 0.11741
Stop-loss: 0.11999
First target: 0.097831
Second target: 0.078603
Third target: 0.058791
Why this setup?
• RSI reached 77.3, momentum is in the overbought zone, cost-effectiveness of chasing long is too low
• Price deviated from EMA144 by 99.1%, there's strong mean reversion pressure
• 6.66x high volume appeared, momentum can easily decay after such a high-volume spike
• Stop-loss set at 0.11999, targets are layered along the regression path of EMA144
⚠️ N.F.A. For reference only.👇️
#BTC #ETH $BTC $ETH
Current price 0.1171, already hit a new high range for the 28th.
🚨 The key right now is to absolutely avoid chasing the last leg.
Price has deviated from EMA144 by 102.28%, there's immense mean reversion pressure.
RSI shot up to 77.32, high volume at 6.66x, showing signs of momentum decay.
Although the bullish structure hasn't broken down yet, chasing the pump at this level has extremely low cost-effectiveness.
📉 Next, keep an eye on whether it can hold around 0.1171.
Upper defense level is at 0.11999, if we break that logic, we'll need to reassess.
Short-term, a deep correction could trigger anytime, waiting for a clearer confirmation.
Add it to the watchlist, let's see if it can hold.
Trading plan (short):
Entry: 0.11706 – 0.11741
Stop-loss: 0.11999
First target: 0.097831
Second target: 0.078603
Third target: 0.058791
Why this setup?
• RSI reached 77.3, momentum is in the overbought zone, cost-effectiveness of chasing long is too low
• Price deviated from EMA144 by 99.1%, there's strong mean reversion pressure
• 6.66x high volume appeared, momentum can easily decay after such a high-volume spike
• Stop-loss set at 0.11999, targets are layered along the regression path of EMA144
⚠️ N.F.A. For reference only.👇️
#BTC #ETH $BTC $ETH