$GMX BEARISH BREAKDOWN šŸ”» | STRONG DOWNTREND CONTINUES

šŸ“‰ Current Price: $11.25 (-20.61%)

šŸ“… Date: July 9, 2025 | ā° Timeframe: 4H / 1D

šŸ” KEY LEVELS TO WATCH

šŸ“Œ Resistance:

šŸ”ŗ $13.80 – Immediate resistance zone

šŸ”ŗ $14.57 – 24H high, strong rejection area

šŸ“Œ Support:

šŸ”» $11.25 – Current price (recently broken support)

šŸ”» $10.23 – 24H low, crucial support

šŸ”» $10.00 – Psychological round number

šŸŽÆ TRADE SETUP – SHORT IDEA

šŸ”½ Short Entry: $11.20 – $11.50

šŸŽÆ Take Profits:

TP1: $10.60

TP2: $10.00

TP3: $9.20 (if sell-off deepens)

šŸ›”ļø Stop Loss: $12.20 (above resistance)

šŸ“Š TECHNICAL INDICATORS

šŸ“‰ MACD: Bearish crossover – momentum building

šŸ“‰ EMA/MA: Price below 20/50 EMA – confirms trend

šŸ“‰ Volume: Increasing sell-side pressure

šŸ“‰ Bollinger Bands: Price riding lower band – high bearish volatility

āš ļø RISK MANAGEMENT

šŸ”’ Use max 1-2% risk per trade

šŸ“‰ Set SL immediately after entry

šŸ“Š Use trailing SL if high volatility continues

🚫 NO OVERLEVERAGING – TRADE SMART, STAY SAFE! šŸ’¼

#BinanceHODLerLA #SECETFApproval #BinanceTurns8 #BreakoutTradingStrategy #Write2Earn! $GMX