$MYX 🔴
$MYX crashing 12.7% with 15.8x volume surge
- With this much volume and such a violent drop, I expect the price to remain heavy, possibly probing lower toward 0.0692 or even 0.0634 if sellers remain in control.
- A short setup could be considered on a weak bounce to 0.0813–0.0844, with entry in that range if you see clear rejection on lower timeframes (e.g., bearish engulfing, double top, or a sweep and fail above 0.0844).
- Take profit targets for the short: 0.0728 first, then 0.0692, and 0.0634 if the bleed continues.
- Stop-loss should be placed above the swing high of the bounce or the last failed level at 0.0864.
- If price closes strong above 0.0864 and reclaims 0.0940 with volume, this would invalidate the short bias and suggest a possible short squeeze back toward the 0.1017 region.
- If you see clear manipulation or a liquidity sweep below 0.0728 that is instantly bought up, accompanied by a bullish reversal pattern on lower timeframes, you could try a scalp long with tight risk, aiming for a move back to 0.0813–0.0844, but until that happens, the bias remains bearish.
📝 This is not investment advice, just an educational analysis. In this type of environment, it’s crucial to wait for confirmations and avoid FOMO entries after such extreme moves—trade safe!
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