$1000CAT /USDT: Short Opportunity Analysis!🔥💯
• Trend: Clear bearish descending channel with strong resistance at the upper boundary.
• Entry Zone: $0.03550–$0.03580 (near resistance within the channel).
• Take Profit (TP):
• TP1: $0.03450
• TP2: $0.03380
• Stop Loss (SL): $0.03620 (just above channel resistance).
• Risk-Reward Ratio: Balanced setup with ~2:1 ratio for TP1 and ~3:1 for TP2.
• Confirmation: Wait for a rejection candlestick at resistance or a breakdown below $0.03550.
• Analysis: The price remains in a strong downtrend. Enter cautiously and monitor 24h volume for increased selling pressure.
• Recommendation: Scale out at TP1 and trail your SL to secure profits for TP2.