$BANANA /USDT short trade looks solid! Here's a cleaner breakdown:
Market Overview:
Current Price: $41.25, down 6.61% in the last 24 hours.
Intraday High: $47.47, followed by a significant drop, indicating strong bearish momentum.
Trade Setup:
Entry: Short position between $41.25 - $42.00.
Stop Loss (SL): $43.50 to manage risk.
Target 1 (TP1): $40.00 – Partial profit lock.
Target 2 (TP2): $38.00 – Extended downside.
Technical Analysis:
Downtrend: Clear bearish momentum on the 1-hour chart.
Resistance Opportunity: Look for short entries during pullbacks to resistance levels.
Volume & RSI: Use these indicators for added confirmation of bearish sentiment.
Risk-Reward Strategy:
Maintain a minimum 1:2 risk-reward ratio.
Stay cautious of potential price volatility in the market.
Market Sentiment & News: