🔥 $PLAY super bullish overall, but those overbought signals are screaming caution. For trading on 1-hour timeframe, I'd go cautious long
First off, volume's gone nuts. The last candle exploded with 226.7M in volume, compared to the usual 500K average – that's like a 450x jump! Feels like real buyers piling in, not just some flaky pump.
On the money flow side, we're seeing steady inflows everywhere: 1.96M on 1H, 1.98M on 4H, and 1.63M on 24H in USDT. Even the 30m flow at 1.96M matches that wild 48.09% surge, which screams smart money getting involved.
For entries longs $PLAY :
- If you're aggressive, jump in now at 0.0605 with a super tight stop.
- I'd rather wait for a dip to 0.052-0.054 (that's around MA5 and the upper Bollinger band) – way better setup for risk-reward.
- Or, if it smashes past 0.0631 (the 24h high) with good volume, that's your green light.
Stop loss: Aim for 4-5% below your entry (like 0.0575 if entering now, or 0.0495 on a pullback).
Targets $PLAY
- Main one: Resistance level at 0.0685
- Stretch: next resistance at 0.0772
- Safe play: 0.065
RSI is through the roof, and it's stretched way above the MAs, so a pullback or sideways action seems likely. Don't chase this blindly – better to wait for a solid entry. If it doesn't dip in the next 2-3 candles, might need to rethink the whole thing.
#play #PLAYUSDT #PlaysOut