If you want to square off such profitable trade do follow the technique
Shorting a coin like BOME/USDT, as top gainers on binance, involves betting that the price will decrease. Here’s a brief technique to short top gainers on Binance Futures:
1. **Identify Top Gainers**: Look at the top gainers on the Binance spot market. These coins tend to experience price corrections after sharp increases.
2. **Technical Analysis**: Use tools like RSI (Relative Strength Index) or MACD to identify overbought conditions. When the RSI is above 70, it’s a signal the coin might be overvalued.
3. **Place a Short Order**: On the Binance Futures platform, select the coin pair (e.g., BOME/USDT), choose the leverage, and place a short order.
4. **Set Entry Point**: Like in the image, your entry price is the price you enter the short position at (e.g., 0.0081190).
5. **Monitor and Close Position**: Once the price falls (as shown with an average close price of 0.0076280), monitor closely and close your position for a profit.
This method focuses on catching price corrections after a strong upward movement.
always remember to manage your risk $BTC $SOL #MemeCoinTrending #10MTradersLeague #USPPIAboveExpectations #SUIHitsATH #NeiroOnBinance
