The Reality of $VIRTUAL, a True Breakdown...
$VIRTUAL is showing a clear downtrend on the four-hour chart, with lower highs and lower lows. The recent rebound has weakened, and the price is struggling to hold above $1.22. Bears are in a dominant position.
Short Entry Range: $1.218-$1.230
Stop Loss: $1.250
Target 1: $1.183
Target 2: $1.140
Target 3: $1.080 (final target)
Volume favors bears (67% in the red), and a strong bullish reversal is not in sight in the short term.
Look for a retest near $1.23 to identify a clear short entry point, with a trailing stop set after reaching TP1.
Market Sentiment: Strongly Bearish
Risk Level: Medium
Strategy Tip: Wait for price to move towards resistance before entering the market.