#RedpecketReward #Follow for Daily Updates! š„
š Short-Term Analysis for
$RED /USDT (15m - 1h - 4h) š„
š Why a Short Trade?
1ļøā£ Key Resistance at $0.6100 - $0.6200 š§
š¹ RED has faced strong rejection near $0.6100, suggesting a potential downturn.
š¹ If the price stays below $0.6000, expect more selling pressure towards $0.5850 - $0.5815.
2ļøā£ Lower Highs Formation š
š¹ RED is showing lower highs, indicating bearish momentum.
š¹ A break below $0.5850 could lead to a stronger downtrend towards $0.5700 - $0.5600.
3ļøā£ Decreasing Volume, Bears in Control š
š¹ 24H Volume: 10.58M USDT ā Selling pressure increasing.
š¹ If RED doesnāt reclaim $0.6100, further downside pressure is likely.
4ļøā£ Key Support at $0.5850 - $0.5815 š
š¹ A breakdown below $0.5850 could confirm a move towards $0.5700 - $0.5600.
š¹ Watch for strong bearish candles with volume confirmation.
š Short-Term Trade Setup (15m - 1h - 4h) š
š¹ Short Entry: $0.6000 - $0.6050 (On pullbacks)
šÆ Targets: $0.5900, $0.5850, and $0.5700
š Stop Loss: $0.6200 (Above resistance)
šø Breakdown Confirmation:
ā
If $0.5850 breaks, expect a move towards $0.5700 - $0.5600.
ā
If RED reclaims $0.6100, exit shorts.
ā ļø Risk Management:
šø Keep your stop loss tight above $0.6200 to minimize risk.
šø Monitor volume & price action for bearish continuation confirmation.
š Overall Bias: Bearish (As long as $0.6100 holds as resistance)
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