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$GLM /USDT – Bull Trap Alert! Time to Short the Bounce! 🚨
Price: 0.2606 (+3.37%)
$GLM spiked to 0.2928 but got instantly rejected, forming a strong wick—classic fakeout pattern. Price is now consolidating below key resistance, hinting at a pullback.
Key Levels:
• Resistance: 0.2660 – 0.2720
• Support: 0.2540 / 0.2500
Short Trade Setup:
• Entry Zone: 0.2620 – 0.2660
• Targets:
• TP1: 0.2550
• TP2: 0.2500
• TP3: 0.2440
• Stop Loss: 0.2725
Market Insight:
That upper wick shows strong seller dominance. Volume has started to fade, and price is struggling to reclaim the wick zone. A clean lower high is forming.
Pro Tip: Look for a 30m candle close below 0.2580 to confirm the setup. This can accelerate the bearish move.
Don’t fall for the wick bait – short GLM smartly and ride the retracement!#GLMUSDT