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$SPACE USDT (1h) - Trend Line Breakdown & Local Support Retest
Bias: Short
Entry (Zone): 0.007950 – 0.008150
Targets:
TP1: 0.007650
TP2: 0.007300
TP3: 0.006900
Stop Loss: 0.008400
Why this Setup:
I’m leaning short because the asset has clearly broken down from its parabolic expansion phase after peaking at 0.008900. The aggressive upward trend has given way to distribution, with consecutive red candles breaking below intermediate support zones on increasing selling volume. While the price is experiencing a minor relief bounce near the local 24h low at 0.007650, the overall momentum has shifted in favor of the bears. I expect any weak retracements to get rejected by overhead supply, leading to a continuation downward to test the deeper demand pools.
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