$ALPHA update . .

if you missed its pump. .. then dont miss its dump . .

To consider taking a short entry in Alpha coin (or any cryptocurrency), follow these steps:

Technical Analysis:

Identify Resistance Levels: Look for significant resistance levels where the price has historically struggled to break above. If the price approaches these levels again, it could be a good opportunity to short.

Chart Patterns: Watch for bearish patterns like head and shoulders, double tops, or descending triangles, which may indicate a potential price drop.

Indicators:

Relative Strength Index (RSI): An RSI above 70 may indicate that the coin is overbought, which can signal a potential price correction.

Moving Averages: A crossover where a short-term moving average crosses below a long-term moving average (like the 50-day crossing below the 200-day) can be a bearish signal.

Market Sentiment:

Pay attention to news and market sentiment. Negative news or developments about Alpha coin or the broader crypto market can lead to price declines.

Volume Analysis:

Look for an increase in selling volume, which may indicate strong bearish pressure. If the price is declining with high volume, it can confirm the strength of the downtrend.

Risk Management:

Always set a stop-loss to protect against unexpected price movements. Determine how much you are willing to lose on the trade.

Timing:

Consider market hours and volatility. Shorting during high volatility can increase risk, while waiting for more stable conditions may provide better opportunities.

Conclusion

Monitor these indicators and factors closely to determine an optimal entry point for a short position. Always conduct thorough research and ensure you have a risk management strategy in place. If you're part of your scalping group, discussing potential entries with fellow traders can also provide valuable insights.

$CHESS $BTC #UptoberBTC70K? #SCRSpotTradingOnBinance #BinanceLabsInvestsLombard #USRetailSalesBoost #BTCSoarsTo68K