I’m looking to short $KITE here. The push higher stalled quickly and sell pressure appeared on the first test of this zone. This suggests the move is corrective rather than a trend shift. Momentum is rolling over, and buyers aren’t getting acceptance above this level, keeping downside continuation in play.

Trade Setup:

Entry Zone: 0.154 – 0.158

Take Profit:

TP1: 0.145

TP2: 0.136

TP3: 0.125

Stop Loss: 0.168

Why this works:

Price tried to break higher but failed to gain traction, showing clear rejection at resistance. Momentum is weakening, making a short here high-probability. The structure indicates sellers are ready to push lower after this stall.

I’m keeping risk defined with a tight stop above the resistance to let the trade play out safely.

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