$Alpine's another meme coin reappears

First, look at this wave of the peak directly pulled to around 2.26, the rise was too rapid, and after the volume expanded at the top, it immediately shrank, which is a typical case of overdrawn market. The main force has had enough and starts to dump.

Next, looking at the RSI, it directly hits 80+, which is already seriously overbought.

Using our Fibonacci indicator, we can see that breaking down now means looking for support below. The first stop down is 0.382 (1.80), if it goes lower we look at 0.5 (1.66) or even 0.618 (1.51).

In simple terms:

There’s not much space above, with a lot of trapped positions;

There’s plenty of space below, and the main force needs to wash out before feeling comfortable.

So my current thinking is very straightforward: if there’s a rebound, take the opportunity to short, aiming for around 1.660. If it drops hard, then it will be a nice profit.