🔴$ALCX
ALCX
7.77
+4.15%
BEARISH SETUP: DOWNSIDE PRESSURE EMERGING
The $ALCX chart indicates early signs of a bearish reversal after failing to sustain above 8.55. Price is showing lower highs and testing support near 7.85. A breakdown below 7.50 could open the path for further declines toward key demand levels. Traders should wait for confirmation before entering short positions.
Entry: Short on break below 7.50
Targets (TP):
TP1: 7.35
TP2: 7.20
TP3: 7.00
Stop Loss (SL): 8.00
Risk Management: Keep risk per trade limited to 1-2% of trading capital, use proper position sizing.