🚨 $LA clear downtrend
$LA is moving in a clear downtrend
Price is now trading near recent lows
Volume near the lows is getting smaller
This can mean selling pressure is getting weaker
Price can stay in this zone or try a short bounce
In the last 24 hours futures data shows net inflow around 9.32M
This can mean some traders are building positions on the dip
Spot data shows net outflow around 30K
This means many small traders are still selling
For now I still see the main trend as down
But I am also watching for a possible reversal
Short idea for
I watch the zone 0.280 to 0.282
If price moves back to this area and shows strong rejection with higher sell volume I stay bearish
Long idea for
I only look for longs if price can hold above 0.252
I want to see a clear bullish reversal candle and higher buy volume in this area
For risk control
For a short setup a common invalidation is above 0.290
For a long setup a common invalidation is below 0.242
Short target zone 0.240 to 0.228
Long target zone 0.2805 to 0.300
This is only my personal view on the chart
