We are looking at short-term exhaustion of bullish momentum with a classic bull trap setup forming. Current price: 0.09969 USDT. Let’s break it down.
📊 Key Technical Observations:
1. Candle Structure
Recent hourly candles show multiple long upper wicks, signaling persistent selling pressure above the 0.100 level.
Previous attempt to push above 0.10200 sharply rejected with a shooting star, confirming resistance.
Latest candles are printing lower highs with tightening bodies — this is distribution behavior, not accumulation.
2. Support & Resistance
Strong resistance at: 0.10200 (triple top level).
Minor support at: 0.09600, but real liquidity sits near 0.08900 (local wick bottom).
3. Volume Profile
Decreasing green volume despite price attempts to climb — bullish attempts are fading.
Selling volume remains higher in spikes, with red bars dominating the last rally — smart money exiting.
4. Order Book Analysis
Heavy sell wall at 0.09973 – 0.09980 range.
Buy side is thinner and stepping down slowly — classic liquidity vacuum forming below.
5. Momentum
Price is struggling to reclaim 0.100 psychologically.
Short-term funding rate is positive (+0.1241%), which means crowd is biased long — perfect setup to squeeze them short.
🔥 TL;DR: The market is baiting longs above 0.100 while stealth selling continues. This smells like a bull trap.
✅ Action Recommendation: OPEN SHORT
🎯 Entry: 0.09969 (market)
🎯 Target: 0.08950 (near recent wick low)
🛡️ Stop Loss: 0.10220 (above resistance wick)
Risk/reward is 2.7:1 and the sentiment favors short liquidation hunting.
📌 Final Thoughts:
The move looks exhausted. Retail longs are walking into the fire, and the market structure screams weakness. Don't be the last one holding the bag. Short now or regret later.