⛔✋Binance Square Post: API3USDT - Potential Short Opportunity? 📉
Chart Analysis:
Potential Trade Setup (Short):
Consider a Sell Stop order if the price breaks below the 7-period MA for confirmation of further downward movement.
1️⃣ Open Order: Sell Stop at 1.1675
2️⃣ Take Profit: 1.1350
3️⃣ Stop Loss: 1.1850
Looking at the API3USDT perpetual contract on the 15-minute timeframe, the price is currently trading around 1.17. We observe that the price is below the 25-period Moving Average (MA at 1.2303), which could indicate potential short-term bearish momentum. The 7-period MA (1.1682) is currently acting as immediate support.
Disclaimer: This is not financial advice. Trading involves risk, and you can lose money. Conduct your own research before making any trading decisions.
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