$GMX BEARISH BREAKDOWN š» | STRONG DOWNTREND CONTINUES
š Current Price: $11.25 (-20.61%)
š Date: July 9, 2025 | ā° Timeframe: 4H / 1D
š KEY LEVELS TO WATCH
š Resistance:
šŗ $13.80 ā Immediate resistance zone
šŗ $14.57 ā 24H high, strong rejection area
š Support:
š» $11.25 ā Current price (recently broken support)
š» $10.23 ā 24H low, crucial support
š» $10.00 ā Psychological round number
šÆ TRADE SETUP ā SHORT IDEA
š½ Short Entry: $11.20 ā $11.50
šÆ Take Profits:
TP1: $10.60
TP2: $10.00
TP3: $9.20 (if sell-off deepens)
š”ļø Stop Loss: $12.20 (above resistance)
š TECHNICAL INDICATORS
š MACD: Bearish crossover ā momentum building
š EMA/MA: Price below 20/50 EMA ā confirms trend
š Volume: Increasing sell-side pressure
š Bollinger Bands: Price riding lower band ā high bearish volatility
ā ļø RISK MANAGEMENT
š Use max 1-2% risk per trade
š Set SL immediately after entry
š Use trailing SL if high volatility continues
š« NO OVERLEVERAGING ā TRADE SMART, STAY SAFE! š¼
#BinanceHODLerLA #SECETFApproval #BinanceTurns8 #BreakoutTradingStrategy #Write2Earn! $GMX