Short Position Initiated — Expecting Further Downside
I opened a short position on the coin based on recent weakness in price action.
I expect further downside unless it regains key resistance levels; I'm managing risk with a clear stop.
Analysis
Price action shows weakness and failed support, indicating continued selling pressure; a short is justified while the downtrend and negative momentum persist.
Recommendation
Maintain the short with a conservative position size, place a stop above recent resistance, and cover if price reclaims key levels or momentum turns positive.
Disclaimer
The Analysis and recommendations provided are for informational purposes only. Any investment decisions should be made at your own risk. Past performance is not indicative of future results. Always conduct your own research and consider consulting with a financial advisor before making any investment decisions.