They call this a dead cat bounce, but the RSI of $SLP/USDT is telling a different story.
$SLP – 🔴 SHORT
Trading plan:
Entry: 0.000918 – 0.000926
SL: 0.000944
TP1: 0.000900
TP2: 0.000892
TP3: 0.000877
Why choose this trade?
RSI on the 15m timeframe = 28.95: Heavily oversold, but the trend on the 1D timeframe is still just sideways within the range, with no clear reversal signal yet.
Entry zone (0.000918 – 0.000926): Coincides with an important resistance level on the 4H timeframe, suitable for a technical reaction short.
ATR shows volatility is building up: The market is about to make a strong move. This is not an accumulation zone, but rather likely a technical trap within the range.
Debate:
Is this oversold RSI a true reversal signal,
or just a short stop before the price continues its next leg down?
👉 Enter the order here
SLP
0.000959
+0.73%