$IQ /USDT BEARS GAIN MOMENTUM – SHORT SETUP IN PLAY AS SUPPORT CRACKS!
$IQ /USDT is showing bearish momentum, currently trading around 0.003613, down 0.85% in the latest session. Price action is indicating weakness as it continues to slide below short-term support levels, hinting at further downside potential.
Key Levels to Watch:
Resistance Zone: 0.003680 – 0.003690
Immediate Support: 0.003600
Major Support: 0.003550
The price has broken below the 0.003640 – 0.003620 consolidation zone and is hovering near 0.003600, signaling that bears are taking control. If this level is breached decisively, we may see a move toward 0.003550.
Trade Setup – SHORT Position:
Entry: 0.003610 – 0.003620
Take Profit (TP1): 0.003580
Take Profit (TP2): 0.003550
Stop Loss (SL): 0.003680
This setup offers a good risk-to-reward ratio with clear levels of invalidation and targets.
Market Outlook:
Sentiment remains bearish unless the price reclaims 0.003680 with strong volume. Volume remains moderate, and no strong bullish reaction has been observed at support, which reinforces the downside bias in the short term.
Risk Management:
Only risk 1–2% of your trading capital. Always use stop-loss and avoid revenge trading after a loss.
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