Short Trade Alert: KNC/USDT
Market Overview: The KNC/USDT pair is displaying bearish momentum, with the price currently at $0.6257. The inability to sustain the recent upward trend signals weakness in the market.
Trade Setup:
Entry Point: $0.6240
Take Profit Targets:
TP1: $0.6150
TP2: $0.6050
Stop Loss: $0.6330
Risk Management: Utilize a 1:2 risk-to-reward ratio when sizing your position. Avoid excessive leverage.
Analysis: Increased selling pressure suggests a continuation of the bearish trend, with support levels expected around $0.6150 and $0.6050.
Action Plan: Enter the trade only if the price breaks below $0.6240. Adjust your stop-loss level to secure profits as the price moves in your favor.