$XPL making potential bull trap as price go near resistance area
trade plan: short $XPL
entry: 0.096 - 0.0965
stop loss: 0.1
targets
tp1: 0.093
tp2: 0.09
tp3: 0.086 and above
move sl to entry after tp1
xpl is going near a very important resistance area where this recent pump look like it losing power. many traders thinking it will go up more but chart structure showing a bull trap forming because buying momentum is fading away fast. if this entry zone stay strong as resistance and sellers take control then this setup give a nice drop down toward next support and liquidity levels.
risk max 1-2
click 👇and short $XPL
XPLUSDT
Perp
0.0952
-5.27%