$GMX BEARISH BREAKDOWN 🔻 | STRONG DOWNTREND CONTINUES
📉 Current Price: $11.25 (-20.61%)
📅 Date: July 9, 2025 | ⏰ Timeframe: 4H / 1D
🔍 KEY LEVELS TO WATCH
📌 Resistance:
🔺 $13.80 – Immediate resistance zone
🔺 $14.57 – 24H high, strong rejection area
📌 Support:
🔻 $11.25 – Current price (recently broken support)
🔻 $10.23 – 24H low, crucial support
🔻 $10.00 – Psychological round number
🎯 TRADE SETUP – SHORT IDEA
🔽 Short Entry: $11.20 – $11.50
🎯 Take Profits:
TP1: $10.60
TP2: $10.00
TP3: $9.20 (if sell-off deepens)
🛡️ Stop Loss: $12.20 (above resistance)
📊 TECHNICAL INDICATORS
📉 MACD: Bearish crossover – momentum building
📉 EMA/MA: Price below 20/50 EMA – confirms trend
📉 Volume: Increasing sell-side pressure
📉 Bollinger Bands: Price riding lower band – high bearish volatility
⚠️ RISK MANAGEMENT
🔒 Use max 1-2% risk per trade
📉 Set SL immediately after entry
📊 Use trailing SL if high volatility continues
🚫 NO OVERLEVERAGING – TRADE SMART, STAY SAFE! 💼
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