$PTB is entering a supply overhang where sellers are beginning to absorb demand.
Trading Plan Short $PTB
Entry: 0.000838 – 0.000842
SL: 0.000862
TP1: 0.000810
TP2: 0.000778
TP3: 0.000735
The asset has climbed from 0.000635 to 0.00084 — a 32% gain. The RSI at 83 suggests the asset is entering overbought territory. The 1-hour chart is displaying a loss of bullish momentum, with price struggling to extend beyond the current level. This region has rejected price multiple times in the past, creating a strong resistance zone. If sellers defend this area, the next downside targets are near 0.000810 and 0.000778, with deeper liquidity at 0.000735 — a potential 12% decline from entry. The stop is placed tight at 0.000862, above the recent high, making this a high-probability short opportunity.
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