📉 Short Setup: $GPS (GoPlus Security) – Structure Breakdown
The market structure for $GPS is looking increasingly fragile. After failing to reclaim the $0.0125 level, momentum has shifted heavily to the downside. rallies are being treated as exit opportunities by sellers, and the path of least resistance remains lower.
⚡ Trade Strategy: Sell the Strength
Entry Zone: $0.011 – 0.0118
Stop Loss (SL): 0.0128
Take Profit 1: 0.0105
Take Profit 2: 0.0095
Take Profit 3: 0.0085
📊 Technical Breakdown
Trend: Trading below the SMA30 ($0.0125), confirming a bearish regime.
Momentum: MACD histogram is printing negative bars, and an RSI of 42 suggests there is still plenty of room for a further drop before hitting oversold territory.
Key Pivot: 0.0105 is the line in the sand. A high-volume break below this level will likely trigger an accelerated flush toward the final targets.
Bias: Bearish as long as price remains under $0.0125.
Author: Nabiha Noor
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$GPS
