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Is this HYPE pullback a washout or a top?
$HYPE /USDT - SHORT to go short
Trading plan:
Entry: 60.753 – 60.991
SL: 62.017
TP1: 60.013
TP2: 59.441
TP3: 58.582
Why focus on this structure?
- The 4-hour level SHORT signal has activated; the EMA is arranged bearishly. RSI(15m) is 59.14 and hasn’t hit overbought—there’s still downside room.
- Current price 60.87 is near the resistance zone. If it breaks below the 60.75 support, targets are TP1 60.01 and TP2 59.44.
- Why now? It’s a critical point in the long/short battle: the 1-day trend is range-bound, while short-term bearish momentum is building.
Discussion:
Will this move reach TP2 first, or is it a stop-hunt bounce?