$PORTO /USDT - Strategic Short Opportunity 🔥💯
1. Trend Overview: The current price action at $1.603 suggests consolidation after a brief recovery.
2. Entry Point: Consider entering a short position at $1.605-$1.610, targeting the nearest resistance level.
3. Take Profit Levels:
• TP1: $1.580
• TP2: $1.560
4. Stop Loss: Place SL at $1.625 to manage risk.
5. Technical Analysis: The price rejection at resistance aligns with bearish momentum on the 1-hour timeframe.
6. Indicators: RSI hovering near overbought territory; MACD signals potential downward momentum.
7. Risk-Reward Ratio: Favorable at approximately 1:2.
8. Short-Term Focus: A break below $1.580 could trigger accelerated selling pressure.
9. Long-Term Insight: Sustained movement below $1.560 might signal a deeper correction toward $1.500.
10. Caution: Monitor volume spikes and macro news for confirmation.
Stay sharp and trade wisely!