$GMX BEARISH BREAKDOWN ๐ป | STRONG DOWNTREND CONTINUES
๐ Current Price: $11.25 (-20.61%)
๐ Date: July 9, 2025 | โฐ Timeframe: 4H / 1D
๐ KEY LEVELS TO WATCH
๐ Resistance:
๐บ $13.80 โ Immediate resistance zone
๐บ $14.57 โ 24H high, strong rejection area
๐ Support:
๐ป $11.25 โ Current price (recently broken support)
๐ป $10.23 โ 24H low, crucial support
๐ป $10.00 โ Psychological round number
๐ฏ TRADE SETUP โ SHORT IDEA
๐ฝ Short Entry: $11.20 โ $11.50
๐ฏ Take Profits:
TP1: $10.60
TP2: $10.00
TP3: $9.20 (if sell-off deepens)
๐ก๏ธ Stop Loss: $12.20 (above resistance)
๐ TECHNICAL INDICATORS
๐ MACD: Bearish crossover โ momentum building
๐ EMA/MA: Price below 20/50 EMA โ confirms trend
๐ Volume: Increasing sell-side pressure
๐ Bollinger Bands: Price riding lower band โ high bearish volatility
โ ๏ธ RISK MANAGEMENT
๐ Use max 1-2% risk per trade
๐ Set SL immediately after entry
๐ Use trailing SL if high volatility continues
๐ซ NO OVERLEVERAGING โ TRADE SMART, STAY SAFE! ๐ผ
#BinanceHODLerLA #SECETFApproval #BinanceTurns8 #BreakoutTradingStrategy #Write2Earn! $GMX