Is $PAXG our favorite digital gold asset preparing for a big move? Let's dive into the charts with a Smart Money Concepts perspective! This enhanced advanced indicator helps us see what 'big institutions' might be preparing.
General Data About PAXG:
Currently, $PAXG is trading around $3,118.40 USDT. From the SMC dashboard, the long-term trend bias (D1) shows bullish momentum, but in the short-term timeframe (H4/M15), the bias tends to be bearish. This indicates a power struggle between buyers and sellers!
Key Points from SMC Analysis:
Short-Term Downward Dominance: On the H4 and M15 charts, we observe a series of CHoCH (Change of Character) and BOS (Break of Structure) downward, affirming the short-term bearish trend. This means the price continues to form lower lows and lower highs, indicating strong selling pressure.
Attractive Discount Zone: The current price of PAXG is in the Discount Zone on the H4 chart. This is theoretically the ideal area for 'Smart Money' to seek long positions. We can see an unmitigated 'Demand Area' or Order Block (OB) around the current level, indicating potential interest from institutional buyers below the current price.
Liquidity Target Above: Despite selling pressure, pay attention to the EQH (Equal Highs) forming around the $3,260-$3,280 level. This is a cluster of liquidity that could become a price target if the market bias shifts to bullish.
Fair Value Gaps (FVG) Below: There are several Fair Value Gaps (FVG) that have not been filled below the current price on the H4 chart. If selling pressure continues, the price may attempt to 'fill' these gaps.
Conclusion:
PAXG is currently in a significant short-term correction phase, entering an attractive 'discount' zone. Although the larger trend remains bullish, the bearish dominance in lower timeframes requires caution. However, the discount zone and unmitigated Order Blocks below the current price offer potential buying opportunities for those looking for 'cheap' entries.
Recommendations & What You Should Monitor:
Buy The Dip Opportunities in the Discount Zone: Pay attention to price reactions around the Order Block located in the discount zone. Look for reversal confirmations (e.g.,
bullish CHoCH on smaller timeframes) before taking a buy position.
Be Cautious of FVG Below: If the price continues to decline, the unfilled FVG levels could be the next correction target.
Potential Targets Above: If PAXG manages to reverse direction, the first target may be the EQH above to 'sweep' liquidity.
DYOR & Risk Management: Always conduct your own research (DYOR) and ensure to use strict risk management, including clear stop-loss placements. The crypto market is highly volatile!
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Financial Disclaimer: This content is provided 'as is' for general information and educational purposes only, without any representations or warranties. It is not investment or financial advice. The prices of digital assets can be volatile. The value of your investment may go down or up. You are fully responsible for your investment decisions. Binance Square is not responsible for any losses you incur. Always conduct your own research (DYOR) before making investment decisions.