Pretty good trade location for shorts. Right now in a pocket between 61% and 78% of a previous bear move.
Bear divs on daily, and on 4 hour. We had 4h RSI breakout, and price action breakout, but it seems more like a fakeout, liquidating all shorts up there.
Also price is now at the horizontal resistance, and upper fib channel.
A lot of talk recently about $EDO swapping with $PNT, Binance just listed PNT, and after rally of 1700%, it could have a little break here. Sentiment is megabullish, as always right at resistance. I'm gonna go with the old rule "sell the news", with tight stop loss. Target not determined yet, but probably when I spot bull divergence on 30 min or 15 min chart.
Bear divs on daily, and on 4 hour. We had 4h RSI breakout, and price action breakout, but it seems more like a fakeout, liquidating all shorts up there.
Also price is now at the horizontal resistance, and upper fib channel.
A lot of talk recently about $EDO swapping with $PNT, Binance just listed PNT, and after rally of 1700%, it could have a little break here. Sentiment is megabullish, as always right at resistance. I'm gonna go with the old rule "sell the news", with tight stop loss. Target not determined yet, but probably when I spot bull divergence on 30 min or 15 min chart.
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Added more to shorts here. Stop loss would be above upper channel trendline.
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double tweezers top