Short Selling Suggestion:
Opening Range: 0.9400-0.9600
Take Profit Targets: First target 0.8800-0.8600, second target 0.8400-0.8200, ultimate target 0.8000-0.7800 (like milk being dumped, it flows away quickly).
Stop Loss Range: 0.9800-1.0000 (if we rush up this prairie, then admit that the cow has really eaten the feed, retreat!).
$COW
The recent trend of COW coin resembles a cow dragging its weary body, going back and forth in the ranch but unable to get out of the fence. A clear resistance zone has formed around 0.9400-0.9600, with weak rebounds, and repeated attempts to break through have been crushed by selling pressure. It can be said that the resistance zone above has become this cow's 'ceiling'.
The support zone below is at 0.8800 and 0.8400. Once the price breaks below 0.8800, market confidence may completely collapse, sliding directly to the 0.8000-0.7800 area, which is basically the bottom price for a 'cheap cow'.
In terms of trading volume, the market seems to have lost interest, with a significant absence of buy orders, indicating that most players are watching, waiting to see if the cow continues to weaken or makes a miraculous turnaround. However, the current technical indicators show that COW coin is in a downward trend, lacking upward momentum in the short term.
The state of COW coin looks very grim, with a low probability of breaking through the resistance zone in the short term. The opportunity to short lies in the current weak trend. As long as risk is well controlled (especially the stop loss range), this could be a 'ranch harvesting operation'. Don't let yourself become a 'cow' in someone else's ranch!
#COW