Entry Zone: $0.1565 - $0.1580 (Look for rejection or bearish confirmation)
Target 1: $0.1500 (First support level)
Target 2: $0.1450 (Stronger support)
Stop Loss: $0.1620 (Above resistance)
Trade Details
✅ Wait for a bearish rejection at $0.1565 - $0.1580 before entering. ✅ A rejection at resistance could push price toward $0.1500 and $0.1450. ✅ Monitor 4H & 1H charts for confirmation with volume analysis. ✅ If price breaks above $0.1620, exit to minimize risk.
Risk Management
🔹 Maintain a 2:1 risk-to-reward ratio. 🔹 Adjust stop loss if price consolidates near resistance.
Momentum Indicators
📉 RSI near overbought could signal exhaustion. 📉 Decreasing volume at resistance strengthens bearish bias.
Pro Tip
🚨 Watch BTC’s movement, as sudden volatility can impact $CFX.