POPCATUSDT - Prime Opportunity for a Short Trade?
Aggiornato
Hey there! We've seen some exciting price action with Popcat recently, but it looks like the party might be cooling down. Let’s explore why now might be the perfect time to consider a short trade targeting the naked Point of Control (nPOC), which aligns beautifully with the Volume Weighted Average Price (VWAP).
Popcat made another impressive surge, taking out its previous high. However, after this breakout, it quickly retraced. The daily time frame has shown its first significant rejection red candle, indicating that the bulls might be running out of steam.
Signs of weakness:
If we see continued weakness and further rejection candles on the daily time frame, the next levels of support will come into play.
While Popcat has had an impressive run, the current signs point to a likely retracement. Keeping an eye on key levels and volume will be crucial in navigating the next moves.
What are your thoughts on this update? Are you preparing for the dip or expecting another bounce? Share your insights below!
Popcat made another impressive surge, taking out its previous high. However, after this breakout, it quickly retraced. The daily time frame has shown its first significant rejection red candle, indicating that the bulls might be running out of steam.
Signs of weakness:
- Hovering Below mOpen: This is a clear sign of potential weakness. If the price stays below mOpen, we could see further downside.
- Decreasing Volume: Volume is steadily declining, another indicator that the bullish momentum is fading.
If we see continued weakness and further rejection candles on the daily time frame, the next levels of support will come into play.
While Popcat has had an impressive run, the current signs point to a likely retracement. Keeping an eye on key levels and volume will be crucial in navigating the next moves.
What are your thoughts on this update? Are you preparing for the dip or expecting another bounce? Share your insights below!
Trade attivo
Update: Short Trade in ActionPopcat perfectly retested the mOpen, providing an ideal short trade entry opportunity. It now looks like Popcat has formed a Head and Shoulders pattern and is breaking down. This pattern is a classic bearish signal and aligns well with our short trade strategy. The nPOC around $0.47/$0.46 remains our target for this short trade. This level aligns with both the nPOC and VWAP, making it a great take profit zone.
Trade chiuso: obiettivo raggiunto
Our short trade targeting the naked Point of Control (nPOC) has hit its mark around $0.47. The trade has been closed successfully! However, there's potential for further downside and this short trade can run towards the Fibonacci 0.618 level at around $0.40.Declinazione di responsabilità
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