$TAG — Relief Rally Into Resistance, Bearish Continuation Setup
Short $TAG
• Entry: 0.0003600 – 0.0003900
• Stop Loss: 0.0004200
Targets:
• TP1: 0.0003170
• TP2: 0.0002800
• TP3: 0.0002330
• TP4 (Extension): 0.0002000
$TAG is currently printing a relief bounce inside a broader daily downtrend. The recent upside move appears corrective rather than impulsive, with price reacting into a short-term resistance zone that previously acted as breakdown support.
Market structure still favors the bears, as lower highs continue to form on higher timeframes. The 0.0003600–0.0003900 zone represents a supply area where sellers are likely to step back in. Unless price reclaims and holds above 0.0004200 with strong volume, the broader bearish continuation structure remains intact.
A confirmed rejection from this resistance can open the path toward 0.0003170 first, followed by deeper liquidity zones at 0.0002800 and 0.0002330.
This is a trend-continuation setup, not a bottom-fishing play. Strict risk management is essential — respect the stop loss and scale profits at target levels.
Trade smart and protect capital.
