🔥 This $ZEN Setup Could Earn You Quick Profits – Don’t Miss the Opportunity to Short at $30! 🚨
📉 Trading Idea: Shorting ZEN (Horizen)
🔍 Setup:
• Current Price: $30
• Key Observation: Price is increasing, but Open Interest (OI) is declining. This divergence suggests bullish momentum is weakening and long positions are being closed rather than new buyers stepping in.
🎯 Trading Plan:
1. Entry Point: Short ZEN near $30–$31, waiting for confirmation of resistance around this level.
2. Stop Loss: Tight SL at $32 to limit risk in case of an unexpected breakout.
3. Target:
• First Take Profit (TP1): $28 (previous support).
• Second Take Profit (TP2): $26 for extended downside.
📊 Risk Management:
• Position size should limit risk to no more than 2% of your trading capital.
• Monitor funding rates and market sentiment for further confirmation.
💡 Quick Tip: This is a short-term scalp idea. Watch for sharp reversals or changes in volume and adjust accordingly.