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SKYAI: Is this rebound a bull trap or a real bottom?
$SKYAI /USDT - going short (SHORT)
Trading plan:
Entry: 0.02979 – 0.03045
SL: 0.03326
TP1: 0.02777
TP2: 0.02620
TP3: 0.02384
Why focus on this structure?
The 15-minute RSI has fallen to 32.41, close to the oversold zone, but the 4-hour direction is clearly bearish. Current price is 0.03012; if it fails to hold above 0.03045, the bears will take control. TP1 is at 0.02777, TP2 at 0.02620, with the stop loss set at 0.03326. Why now? RSI lows + range consolidation mean the short has better odds.
Discussion:
Will this move reach TP2 first, or is it a bull trap?