$MYX 🔥 Current Price: $17.30 (-6.25%)
📉 Bearish Momentum - But Ready For a Bounce or Breakdown?
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📊 TECHNICAL ANALYSIS:
📈 Chart Patterns:
· Descending Channel Formation
· Lower Highs & Lower Lows (Bearish Structure)
· Double Top Pattern Near $18.5 (Rejection Zone)
🕯 Candlestick Patterns:
· Recent Doji & Spinning Tops → Indecision
· Bearish Engulfing on 1H Timeframe
· Waiting for confirmation – Break below $17.0 may trigger further sell-off.
📉 Indicator Analysis:
· RSI (14): 61-72 (Neutral to Slightly Overbought)
· MACD: Bearish Crossover on 4H | DIF < DEA → Short Bias
· EMA: Price below EMA(20) = 16.89 → Resistance
· Stoch RSI: Oversold on lower timeframes → Potential Reversal Signal?
🔁 Divergence Spotted!
· Hidden Bearish Divergence on RSI & Price → Lower high in price, higher high in RSI → Weakness!
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⚡ Market Sentiment & Psychology:
Traders are fearful 😨 after a sharp drop from $18.5.
FOMO Shorts may enter if price breaks $17.0.
Longs are trapped near $18.0 – any bounce could be sold into.
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📉 FUTURES TRADING SETUP:
SHORT ENTRY (High Leverage):
· Entry: $17.40 - $17.60 (If retest fails)
· Stop Loss: $18.20
· Take Profit 1: $16.50
· Take Profit 2: $15.80
LONG ENTRY (Reversal Play - Risky):
· Entry: $16.80 - $17.00 (If support holds + bullish candle)
· Stop Loss: $16.40
· Take Profit: $17.80
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📌 Key Levels:
· Resistance: $17.80, $18.20, $18.50
· Support: $17.00, $16.50, $16.00
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📶 Funding Rate:
Negative 📉 (-0.2662% in last funding) → Favors Shorts
📊 Open Interest (OI):
Declining → Liquidations happening → Momentum may continue downward.
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🎯 Final Verdict:
Bias: SHORT on retest 🔻
Leverage: 10x-15x (Use Proper Risk Management)
Entry: Wait for confirmation – either break below $17.0 or rejection at $17.60.
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⏰ This is a QUICK SCALP setup! Trade with caution!
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🔖 Hashtags:
#MYXUSDT #ScalpTrade #Crypto #TradingSignals #BinanceSquare
#TechnicalAnalysis #HighLeverage #ShortSqueeze #CryptoAlerts #DayTrading #FutureTrading #BearishDivergence #FundingRate #OI
#ToTheMoonOrToTheHell ---
Let me know if you want a version in Urdu or more detail on entry timing! 👍