$LA : On the Brink of a Downward Leg?
The cryptocurrency market is abuzz with speculation, and $LA is currently presenting a compelling short setup that demands attention. A critical rejection in its current zone could trigger a rapid descent.
Short Trade Plan for $LA
Entry Zone: 0.235 – 0.238
Stop Loss (SL): 0.247
Take Profit 1 (TP1): 0.226
Take Profit 2 (TP2): 0.222
Take Profit 3 (TP3): 0.215
Analysis Behind the Setup
This trade plan is built on a rules-based approach, leveraging a bearish bias from the 1-day trend and executing on the 4-hour timeframe. The entry points are precisely defined, but patience is key; waiting for price confirmation within the 0.235-0.238 range is crucial before initiating the trade.
The first target (TP1) is set at 0.226. Further supporting this bearish outlook is the current state of the lower timeframe RSI, which shows no extreme oversold conditions, suggesting ample room for a downward move to develop without immediate reversal pressure.
Invalidation and Key Debate
The bearish thesis is invalidated if LA finds acceptance above the 0.248 mark. This level is critical.
The current market debate revolves around whether sellers will successfully defend this pivotal zone and drive the price towards 0.226, or if buyers will manage to reclaim above 0.248, thereby flipping the momentum and invalidating the short setup.
Analysis by @SaleeM_MeYo
