To create the perfect short signal for MEWUSDT and maximize profits, here's a strategy you can follow based on technical analysis and market behavior:
1. Watch the Overbought RSI: The RSI is currently above 70 (73.78 in the image), indicating the coin is overbought. This often signals a potential reversal. Wait for a slight RSI divergence or for the RSI to start dropping below 70. 🥸🥸🥸🥸🥸 2. Set a Short Entry Point: Entry Range: Look for the price to reach or exceed 0.0117 (recent high in your chart) as a trigger to initiate the short. This is where overbuying peaks and exhaustion might set in. 🥸🥸🥸🥸🥸🥸 Confirmation: Enter the short position once you see a strong red candle forming on the 15-minute or 1-hour chart. Ideally, combine this with declining RSI or a bearish candlestick pattern like a bearish engulfing. 🥸🥸🥸🥸🥸 3. Define Take-Profit Zones: First Target: Place your first take-profit at around 0.0105, near the previous key support level. Second Target: For further gains, aim for 0.0089, the 24-hour low on your chart, if the market continues its downtrend. 🥸🥸🥸🥸🥸🥸 4. Set Your Stop-Loss: Place your stop-loss just above 0.0121, which is slightly above the current high of 0.011716, to minimize risk in case of a price spike. 🥸🥸🥸🥸🥸 5. Use Volume and MACD for Confirmation: Watch the volume for declining buy pressure. If volume decreases as price rises, it signals a potential reversal. 🥸🥸🥸🥸🥸 Check the MACD: A bearish cross (MACD line crossing below the signal line) will confirm the downward momentum, supporting your short position. 🥸🥸🥸🥸🥸 Summary: Entry: Short at 0.0117 after confirmation of bearish signals. Take-Profit 1: 0.0105. Take-Profit 2: 0.0089. Stop-Loss: 0.0121. Wait for confirmation on these signals, then ride the trend downward for potential profits! $NEIRO $BTC #USJoblessClaimsDip #EthereumPectraUpgrade #CryptoPreUSElection #TeslaBTCQ3HoldingsStable
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