PARTI/USDT - Short Setup Activated?
Bearish Signs Emerge
Looking at the PARTI/USDT chart on the 15-minute timeframe, we're seeing some interesting developments that suggest a potential short opportunity.
* Price Breakdown: The price has broken below the SAR (Parabolic SAR) indicator, currently sitting at 0.3727. This is often a sign of a potential trend reversal from bullish to bearish.
* RSI Divergence: The RSI (6) is at 62.76, which is relatively high. While not overbought, it's worth noting if price action continues downward, we could see a bearish divergence form, further confirming the short idea.
* Declining Volume: Notice the volume bars are decreasing as the price drops. This suggests weakening buying pressure and potential for further downside.
* Key Levels: The recent low of 0.3012 could act as a significant support level. A break below this would confirm the short setup.
Entry Strategy:
* Consider entering a short position on a confirmed break below 0.3593 (current price).
* Set a stop-loss above the SAR at 0.3727 to manage risk.
Target:
* Initial target could be the previous low of 0.3012.
* Further targets could be the 0.2976 and 0.26 levels.
Disclaimer: This is not financial advice. Always do your own research and manage your risk accordingly
