After a surge with increased volume on the 4H chart, the price was quickly pushed back and consolidated, forming a clear false breakout and distribution pattern.
🎯Direction: Short
🎯Entry: 0.00634 - 0.00638
🛑Stop Loss: 0.00660 $FUSDT Rigid Stop Loss(
🚀Target 1: 0.00600
🚀Target 2: 0.00566
Hardcore logic: 1) Price action: After a long upper shadow on the 4H candlestick, the price consolidates continuously, indicating heavy selling pressure above and an inability to push higher. 2) Divergence in data: While the price increased by 12.74%, open interest (OI) remained stable, and Taker Volume showed non-aggressive buying, which does not align with healthy upward movement characterized by simultaneous rise in price, volume, and open interest. Instead, it resembles distribution after a price spike by the main force. 3) Order book structure: Sell orders (Asks) are significantly concentrated in the 0.00635-0.00636 range, forming a resistance wall. 4) Market psychology: A rapid rise without obvious positive news, attracting follow-up traders, followed by sideways movement, is a typical "trap to lure longs and distribute." The probability advantage favors the bears.
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After a surge with increased volume on the 4H chart, the price was quickly pushed back and consolidated, forming a clear false breakout and distribution pattern.
🎯Direction: Short
🎯Entry: 0.00634 - 0.00638
🛑Stop Loss: 0.00660 $FUSDT Rigid Stop Loss(
🚀Target 1: 0.00600
🚀Target 2: 0.00566
Hardcore logic: 1) Price action: After a long upper shadow on the 4H candlestick, the price consolidates continuously, indicating heavy selling pressure above and an inability to push higher. 2) Divergence in data: While the price increased by 12.74%, open interest (OI) remained stable, and Taker Volume showed non-aggressive buying, which does not align with healthy upward movement characterized by simultaneous rise in price, volume, and open interest. Instead, it resembles distribution after a price spike by the main force. 3) Order book structure: Sell orders (Asks) are significantly concentrated in the 0.00635-0.00636 range, forming a resistance wall. 4) Market psychology: A rapid rise without obvious positive news, attracting follow-up traders, followed by sideways movement, is a typical "trap to lure longs and distribute." The probability advantage favors the bears.