Conflux $CFX is putting in a textbook bottom here at 0.0710-0.0720 after sweeping the yearly low and instantly reversing with a massive green candle. That sweep took out all the stops below 0.0690 and flipped the order book hard green (62% bids). Volume exploded on the reversal while selling pressure completely dried up—classic sign of a capitulation low.
We’re now back above the 200-day EMA and the weekly structure flipped bullish. China narrative is heating up again with fresh state-backed blockchain mentions, and CFX remains one of the few high-throughput L1s actually used in the region.
Trade plan:
Entry: 0.0715 – 0.0730
Target 1: 0.0820
Target 2: 0.0920
Stop Loss: 0.0680 (below sweep low)
R:R 1:4.2+
Bullish as long as we hold 0.070. This looks like the real bottom.
