$IMX /USDT Short Trade Opportunity.
$IMX has just printed a classic blow-off top near the $0.680 mark and is now showing signs of a strong retracement. We’re seeing a lower high formation with bearish candles taking shape, making this a perfect moment for a short trade setup.
Trade Setup:
Entry Zone: $0.636 – $0.645
TP1 (Take Profit 1): $0.615
TP2 (Take Profit 2): $0.595
TP3 (Take Profit 3): $0.573
Stop Loss: Set above $0.662
Market Insights:
Rejection at $0.680: The price failed to hold above this level, signaling a potential downturn.
A bearish engulfing candle is forming on the 30-minute chart, a strong sign of reversal.
Volume is drying up after the breakout, suggesting that the momentum is weakening.
Pro Tip: If we see a break below $0.630 with increasing volume, this could trigger further downward momentum. Be sure to tighten up your stop loss and manage risk carefully, especially with the heightened volatility post-pump.
Catch the reversal before it slips away! The opportunity is ripe, but it won’t last long. Let’s stay sharp and hit those targets.
Happy trading.