$GWEI Preparing to go short. On the 15-minute timeframe it’s a bit overbought. This bounce is just in time to take a short along with the larger timeframe downtrend.



Watch the entry area around 0.0297 to 0.03044. Downside targets are in the 0.0284 to 0.0271 zone, with defense at 0.0317.

But keep an eye on the risks. Right now the funding rate is negative. If momentum continues, there could be a short squeeze. Don’t go in too heavily—manage your position size. The shorts are starting to work.
GWEI-9.82%
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