🔥 $SPELL /USDT BEARISH TRADE SETUP! 🔥
📉 Current Price: $0.0009331 (+5.87%) – Price surged but is now showing signs of exhaustion!
📊 Market Analysis:
$SPELL saw a strong bullish push but faced sharp rejection at $0.0009750, forming a wick on higher timeframes, indicating seller dominance. The rejection suggests a possible pullback before the next potential move.
📌 Key Levels to Watch:
Resistance Zone: $0.0009500 - $0.0009750 (Failed breakout area)
Support Zone: $0.0009200 (Immediate support)
Major Support: $0.0008800 - $0.0008700 (Stronger demand area)
📉 Short Entry Strategy:
🔹 Entry Zone: $0.0009400 - $0.0009500 (Sell on retest of resistance)
🔹 Stop Loss: $0.0009800 (Above rejection wick to avoid fake-outs)
🎯 Profit Targets:
✅ TP1: $0.0009200
✅ TP2: $0.0009000
✅ TP3: $0.0008800
💡 Trade Rationale:
Strong resistance rejection at $0.0009750.
Bearish divergence forming on lower timeframes.
High volume spike followed by price rejection, signaling weak bullish momentum.
📌 Risk Management:
This trade offers a strong risk-reward ratio, capitalizing on the pullback after the rally. Keep an eye on the $0.0009400 - $0.0009500 zone for a potential short entry! 🚀🔥
SPELLUSDT
0.0009439
+7.32%
#PIOnBinanceYesOrNo #FTXrepayment #SOLPriceWatch #MileiMemeCoinControversy #GeopoliticalImpactOnBTC
