đ $KSM
Short Setup: Is the Bull Trap About to Spring? đ©ž
âKusama ($KSM) has rallied straight into the upper resistance of a long-standing descending channel. While the green candles look tempting, the underlying data suggests the bears are just catching their breath before a move lower.
âđ The Technical Breakdown
âThe Rejection Zone: $KSM is currently hitting a major supply wall. Volume is noticeably fading as it approaches the trendline, a classic sign that the rally lacks the conviction to break out.
âThe Trap: This move has all the hallmarks of a bull trap. With liquidity sitting far below at the channel support, a sharp rejection is the high-probability play.
âđŻ The Trade Plan
âDirection: SHORT đŽ
âEntry Range: 4.79 â 4.87
âTake Profit 1: 4.66
âTake Profit 2: 4.51
âStop Loss: 4.99 (Invalidation above the trendline)
âđĄ Strategy Note
âWe are looking for a move back toward the lower range of the channel. If the resistance holds, expect a quick flush as late-longs get liquidated. Always manage your risk and use appropriate leverage!
âWrite: Nabiha Noor
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