$PORTO /USDT - Strategic Short Opportunity 🔥💯
1. Trend Overview: The current price at $1.603 suggests consolidation following a brief recovery.
2. Entry Point: Enter a short position in the range of $1.605-$1.610, targeting the nearest resistance level.
3. Take Profit Levels:
TP1: $1.580
TP2: $1.560
4. Stop Loss: Set Stop Loss at $1.625 to manage risk.
5. Technical Analysis: Price rejection at resistance aligns with bearish momentum on the 1-hour chart.
6. Indicators: RSI is near overbought territory; MACD signals potential downward momentum.
7. Risk-Reward Ratio: Favorable at approximately 1:2.
8. Short-Term Focus: A break below $1.580 could trigger accelerated selling pressure.
9. Long-Term Insight: A sustained move below $1.560 could indicate a deeper correction towards $1.500.
10. Caution: Monitor volume spikes and macro news for confirmation.
Stay sharp and trade wisely!