Short Entry Setup for RED/USDT (Perp)
Market Overview (Based on the Chart)
Current Price: 0.5100 USDT
24h High: 0.6374 USDT
24h Low: 0.5040 USDT
RSI (6): 21.32 (Oversold, indicating possible reversal or consolidation)
MACD: Bearish, but starting to flatten (potential for a short-term bounce)
Bollinger Bands: Price is near the lower band, suggesting exhaustion in selling pressure.
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Short Entry Plan
1. Conservative Short Entry (Breakdown Confirmation)
Entry Point: Below 0.5040 (if price breaks the daily low).
Stop-Loss: Above 0.5200 (recent resistance zone).
Take Profit Targets:
Target 1: 0.4900 (previous support level).
Target 2: 0.4700 (strong demand zone).
Target 3: 0.4500 (psychological support level).
Confirmation: A 1H candle closing below 0.5040 with increasing volume.
2. Aggressive Short Entry (Retracement Short)
Entry Point: 0.5200 - 0.5300 (if price pulls back and rejects).
Stop-Loss: Above 0.5400 (previous resistance).
