Short Trade Setup: $PROVE /USDT (1m Chart)
Entry: $0.6983
TP1: $0.6140
TP2: $0.5370
TP3: $0.4600
Stop Loss: $0.7500
š Reason:
$PROVE /USDT has surged over +130% in a single candle, hitting a high of $1.107 before retracing sharply to $0.6983. This kind of aggressive spike followed by a quick pullback often signals a liquidity grab or bull trap. The price is now vulnerable to correction as early buyers lock profits and late entrants face losses.
High wick rejection from $1.107, along with extreme volume (9.4M), supports a possible short-term reversal setup.
š Note:
Only consider entry if price continues to stall or prints a lower high under $0.72 with decreasing volume. Avoid chasing if momentum resumes strongly to the upside. Use tight risk management in such volatile setups.