Technical analysis by minno91 about Symbol REZ: Sell recommendation (7/8/2024)

Asia session insights: Are we heading lower? The stage is set for a potential sell-off, and REZUSDT could be in the spotlight.Market ContextBitcoin is still trading in a downtrend, and even a small downward movement could trigger a larger sell-off in the altcoin market. Let’s see if REZUSDT will follow suit.Bearish Signals•BTC Downtrend: Bitcoin continues its downward trajectory, putting pressure on the entire crypto market.•Asia Session: Historically, the Asia trading session can see significant movements. If BTC drops, it could accelerate sell-offs in altcoins like REZUSDT.•Price Action: The recent price action in REZUSDT shows weakness, with lower highs and a potential breakdown from current levels.StrategyGiven the current market conditions and the bearish signals, I’m betting on a downward continuation for REZUSDT. Let’s capitalize on this potential move.Action PlanGoing short on REZUSDT, targeting a continuation of the downward movement.Are we going to see a further drop during the Asia session? Let’s find out! 🚀💥Good luck, everyone!