11/NN/SS/TT /AA 👉 trade_withsania

$ARKM quick update

Should we take a short entry here 😎

Quick scenario of $ARKM

👉Price Action: The price has recently made a strong upward move, breaking past previous resistance zones, and is currently near $1.4274.

Indicators:

👉Exponential Moving Averages (EMAs): The 9, 25, and 200-period EMAs are indicating an upward trend with the 9 EMA above the 25 EMA and 200 EMA.

👉Relative Strength Index (RSI): The RSI is around 74.83, which indicates that the market is in overbought territory.

👉Short Entry Considerations:

Overbought RSI: RSI above 70 generally suggests that the asset is overbought and could see a pullback, making it a potential signal for a short entry.

👉Resistance Zone: The price is approaching a key resistance area around $1.4385, and it could face selling pressure here.

Risks:

👉Strong Momentum: The current momentum is bullish, and shorting against a strong trend can be risky. If the price breaks above the resistance zone, it could continue rising.

👉Support Levels: Consider watching for a clearer reversal signal or a break below key support levels (such as the 9 or 25 EMA) before entering a short.

🚨🚨🚨It might be safer to wait for a confirmed rejection at resistance or a clear reversal pattern before taking a short position. If you decide to short, consider setting a tight stop-loss above the recent highs to manage your risk.$NEIRO $TAO #DODOEmpowersMemeIssuance #BinanceLaunchpoolHMSTR #CATIonBinance #BTCReboundsAfterFOMC