At the SOL 76.87 level, what are the shorts setting up for?



$SOL /USDT - Short SHORT

Trading plan:
Entry: 76.75 – 76.99
SL: 78.05
TP1: 75.99
TP2: 75.40
TP3: 74.51

Why focus on this structure?
The 4-hour timeframe issues a SHORT signal. Within the 1D line ranging zone, the 15-minute RSI is only 44.93, and momentum is weak. Using 76.87 as the entry reference, TP1 is 75.99 and TP2 points to 75.40. The stop-loss is set at 78.05, and downside potential is greater than upside. Why now? Because the upper boundary of the range is being resisted; long-side volume is insufficient, and shorts have the upper hand.

Discussion:
Will this move hit TP2 first, or is it a bull trap for a rebound?
SOL-1.79%
View Original
post-image
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
Add a comment
Add a comment
No comments
  • Pinned