$TRX /USDT BEARISH SIGNAL — FAKEOUT ABOVE RESISTANCE FOLLOWED BY SHARP REJECTION!
$TRX spiked rapidly to $0.2852 but was quickly rejected, dropping back to $0.2766. The 4H chart now shows a long upper wick and lower high forming — classic signs of a bull trap and profit-taking near the top. The move looks like an exhaustion spike, not a sustained breakout.
Trade Setup (SHORT):
Entry Price: $0.2760 – $0.2785
Target 1: $0.2710
Target 2: $0.2660
Target 3: $0.2630
Stop Loss: $0.2820
Why Short?
The upper wick at $0.2852 signals failed breakout attempts. Despite the volume spike, price couldn't sustain above $0.2800 — indicating buyer weakness and potential reversal. Sellers are regaining control with a bearish engulfing pattern in formation.
Market Outlook:
Unless TRX reclaims $0.2800 with strong volume, we may see a pullback toward the $0.266–$0.263 support region. This setup favors a short-term corrective phase.
Risk Management Tip:
Always place your SL above failed breakout zones — in this case, $0.2820. Protect profits with trailing stop if targets start to hit.
Sell smart — don’t chase green candles when the trend is turning red!