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HYPE shows a bullish signal over the next 4 hours, but the RSI hits a low at 31.98—trap or reversal?
$HYPE /USDT - Go LONG
Trading plan:
Entry: 58.584 – 59.014
SL: 56.116
TP1: 60.811
TP2: 62.152
TP3: 64.164
Why focus on this setup?
- Current price is 58.799, close to the 58.584 buy-the-dip zone; the 15-minute RSI is oversold to 31.98, and short-term rebound momentum is building.
- The 1-day trend is range-bound, but the 4-hour structure is bullish; the first target is TP1=60.811, with a risk-reward ratio of about 2.3:1.
- If price breaks below 56.116, stop-loss triggers and the view shifts to a bearish play; overhead resistance is at 64.164.
Discussion:
Do you expect this LONG to aim for TP1 first, or do you think it will wick to SL before pumping?