$PROM Trade Bias: LONG 📈
Higher Timeframe (4H) Narrative:
We collapsed from 1.68 down to 1.288—a -23% freefall. But look closer: volume is evaporating (1.39M → 476K → 2.9K → 5.4K). That's not selling pressure; that's a complete lack of sellers. The funding history tells the story: funding just flipped positive (0.005%) after being negative. Shorts are now paying to stay in a position that isn't paying off. The 4H structure is basing, not breaking.
Lower Timeframe Execution (15m):
Price is compressing into a tight coil between 1.295 and 1.298. The Bollinger Bands are squeezing hard (UP: 1.307, MB: 1.307, DN: 1.289). RSI is hovering at 34—recovering from oversold, not overbought. The order book is the real story: 359,851 bid vs 6,181 ask. That's a 60:1 bid-to-ask ratio. Someone is stacking the bid aggressively.
Market Psychology & The Trap:
Retail sees -22% and thinks "short the bounce." They see the downtrend and assume continuation. But the smart money is building a wall at 1.29, and the shorts are leaning into thin air. The longs who bought the top are already capitulated. The new shorts are trapped, paying funding to hold against a brick wall.
🔥 The Setup:
· Entry Zone: 1.2960 – 1.2980 (current consolidation, waiting for a 15m close above 1.2990 to confirm)
· Stop Loss: 1.2880 (below today's low and the ask wall)
· Target 1: 1.3100 (sweep the mini-range high)
· Target 2: 1.3300 (prior support / 15m EMA resistance)
· Target 3: 1.3600 (liquidity grab above the 4H open)
· Risk-to-Reward: 1:3 on first target, 1:6 on full runners
Invalidation: A daily close below 1.2800. That would trap the bulls.
This is a bid support + short squeeze setup. The order book doesn't lie: 360k bids waiting, 6k asks. The shorts are leaning into a wall. We're not guessing—we're following the footprint. 💣
