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ONDO the last escape window for bulls?
$ONDO /USDT - SHORT
Trading Plan:
Entry: 0.3154 – 0.3176
SL: 0.3268
TP1: 0.3088
TP2: 0.3037
TP3: 0.2960
Why focus on this structure?
- 95% bearish momentum on the 4-hour, RSI on the 15-minute has broken below 33, oversold but no reversal signal
- Daily trend is clearly bearish, EMA moving averages are arranged bearishly, suppressing price
- Current 0.3165 is a key resistance on the 1-hour, first downside target TP1 0.3088 (-2.4%)
Discussion:
Will it drop straight to TP2 0.3037, or first bounce to trap bulls and then fall?