“MYX in the process of resolution... Are we buying a bounce from support or descending with the break?”
Excellent deal, get in and don't miss the opportunity
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Quick analysis of the price phase:
General trend: Strong downward trend during the week, with steady liquidity and psychological support around $1.00.
Technical factors supporting the decline: A large unlock (about 39M MYX) has occurred followed by a strong wave of selling, amidst ongoing openings for upcoming periods (vesting), which indicates future supply pressure.
Current trading logic: Price is close to a daily/short-term bottom - which may provide a short-term bounce, but the stronger scenario currently favors waiting for a clear break of support to confirm the downward trend.
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Short-term trading strategy:
1) Buy Bounce from support
Entry area: At a price of $1.00 – $1.02 after the appearance of a reversal candle and closing above support.
Targets:
TP1 = $1.12
TP2 = $1.18 – $1.25 (breaking the temporary resistance)
Stop loss: $0.97
2) Short on Breakdown
Activation condition: A clear break below $1.00 with trading volume, then failure to retest as support.
Entry point: Upon failure of the test within the range of $1.00 – $1.02
Targets:
TP1 = $0.92
TP2 = $0.88 (potential drop points)
Stop loss: $1.03
“Smart timing precedes smart profit. Be the one who knows when to enter the market, not just the one who chases it.”
$MYX
