๐ Bearish Alert: $TRUTH Showing Extreme Relative Weakness โ Strategic Short Setup
The market is currently witnessing a significant divergence in price action for $TRUTH. While the broader market, led by Bitcoinโs recent surge, has shown bullish strength, $TRUTH is exhibiting classic signs of exhaustion and extreme relative weakness.
Technical Analysis & Insights:
โข Persistent Downward Channel: On the daily timeframe, $TRUTH has officially entered a well-defined downward channel. The price is consistently printing lower highs and lower lows, indicating that sellers are firmly in control.
โข Negative Correlation with BTC: This is the most concerning factor for bulls. Yesterday, while Bitcoin rallied strongly, TRUTH collapsed by 18%. Today, it has already shed another 8%, confirming that capital is rotating out of this asset even during market-wide upturns.
โข Downside Potential: The current momentum suggests the asset has not yet found a local bottom. With the break of recent support levels, there is significant room for a further 15-20% decline in the coming days.
Trading Strategy (Short):
โข Entry: Current Market Price (Immediate Short)
โข Primary Target: 15% - 20% below current levels (retesting lower channel boundary).
โข Stop Loss: Positioned just above the recent daily swing high to manage risk.
Summary: The trend is your friend, and for TRUTH, that trend is aggressively down. This is a high-conviction short opportunity based on technical structure and relative strength exhaustion.
Stay disciplined and manage your leverage.
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