$AXBTUSDT - BEARISH BREAKDOWN IMMINENT! 📉

Here's a quick technical analysis of the $AXBTUSDT chart:

Key Levels:

* Current Price: 0.1785 🔴

* Immediate Resistance: 0.1803 (The grey shaded box, indicating strong overhead resistance).

* Strong Resistance: 0.1858 - 0.1864 (The green box, representing a major resistance zone).

* Immediate Support: 0.1760 (The red shaded box, where the price is currently testing support).

* Target Support: 0.1749 (The grey line, and a critical level if the current support breaks).

* Further Support: 0.1730 (The lower green line, a potential target if the bearish momentum intensifies).

Trade Setup:

Given the rejection from previous highs and the current test of immediate support after a bearish trend, we are looking for a SHORT entry.

* Entry: Consider an entry around 0.1783 - 0.1785 (around the current price, looking for a confirmed break below current support).

* Target 1 (TP1): 0.1760 🎯

* Target 2 (TP2): 0.1749 ⬇️

* Target 3 (TP3): 0.1730 📉

* Stop Loss (SL): 0.1805 🛑 (Just above the immediate resistance level of 0.1803).

Risk Management:

Always stick to your risk management plan! Set your stop-loss before entering any trade and risk only a small, fixed percentage (e.g., 1-2%) of your trading capital on a single trade. This is crucial for capital preservation and long-term success. 🛡️💰