$GNO Short Alert: Bulls Hitting a Wall at Resistance? 📉
The market is showing signs of exhaustion at the highs, and $GNO is flashing a classic rejection setup. After an extended move, the sellers are finally stepping back into the ring.
The Technical Setup:
Price pushed aggressively into the overhead resistance zone, but the 1-hour timeframe is telling a different story. We are seeing long upper wicks—a clear signal that every attempt to break higher is being met with heavy selling pressure. Momentum is slowing, and a pullback to previous demand looks likely.
📉 TRADE PLAN (Short Case):
Entry Zone: $123.5 - $125
Stop Loss: $127.2 (Above local high)
Take Profit 1: $121
Take Profit 2: $118.5
Take Profit 3: $115
Market Debate: Can the bulls find the fuel to break $126? While the trend has been strong, the lack of volume on this recent push suggests we might have found the local top. If we don’t see a clean break soon, the long-squeeze could be fast.
What’s your move? Are you shorting the rejection or waiting for a $127 breakout? Let me know below! 👇
#GNO #CryptoTrading #TechnicalAnalysis #BinanceSquare #ShortSignal
$GNO Trade here
