šØ VANAUSDT Analysis - Potential Short Opportunity šØ
š Current Price: $33
š Market Condition: VANAUSDT has seen a sharp rise recently and is now approaching key resistance levels around $33. If you're looking for short trade opportunities, here's what to watch out for:
Bearish Indicators:
Bearish Engulfing Pattern: If we see a strong red candle engulfing the previous green candle near $33, it could signal a potential reversal.
Shooting Star: A small body with a long upper wick at resistance levels might indicate a trend reversal.
Overbought Condition: After a strong rally, price might be overbought, and bearish candles may form as a sign of correction.
Trade Setup:
Entry: Look for price rejection near $33 or a bearish pattern like a shooting star or bearish engulfing.
Target: First target at $31.5 and second target around $30.
Stop-Loss: Keep your stop-loss just above $34, to protect against unexpected breakouts.
Risk Management:
Use moderate leverage (3x-5x).
Set a stop-loss to limit your risks and manage your position size.
š Key Levels to Monitor:
Resistance: $33 - $34
Support: $31.5 - $30
Stay cautious and always manage your risk. Market conditions can change quickly, so make sure to keep a close eye on price action!
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