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Short Trade Idea for $RLC
/USDT (Betting the Price Will Go Down)
RLC's price just shot up very fast (+35%) and is now hitting a ceiling around $1.85. It looks like it's starting to struggle to go higher, and sellers are stepping in. This could mean a drop in price is coming.
· When to ENTER the Trade: Sell (go short) if the price reaches between $1.82 and $1.88.
· Where to set your STOP LOSS (Exit if wrong): $1.92. If the price goes above this, the trade idea is wrong and you should exit to protect your money.
· Where to take PROFIT (Price Targets):
· Target 1: $1.60
· Target 2: $1.44
· Target 3: $1.28
Key Price Levels to Watch:
· Resistance (Price Ceiling): $1.82 - $1.92
· Support (Price Floor): $1.44, then $1.28
Simple Tip: Wait for the price to show clear signs of going down on the 1-hour chart (like a red candle) after it reaches your entry zone. Because the price is moving a lot, it's safer to take your profits in parts as it hits each target.
Remember: This is a risky short-term trade idea, not financial advice. Always do your own research and never risk more than you can afford to lose.