$WAXP - LONG Setup
Entry: 0.00775 – 0.00785 (On a bounce from the immediate support zone with bullish confirmation)
Target 1:0.00810
Target 2:0.00830
Stop Loss:0.00765 (Below the key intraday support)
My View:
WAXP is showing signs of basing and accumulation after a prolonged downtrend.The price is consolidating in a tight range above the $0.00775 support level, forming a potential higher low. The order book shows decent bid support building in this area. The selling momentum has notably decreased, and the price is holding up well, suggesting buyer interest is emerging. This structure suggests a potential trend change or significant bounce. I'm looking for a bounce off this $0.00775–$0.00785 demand zone with a bullish reversal candle to enter long, targeting a move to challenge the recent high.
Bias: Bullish above $0.00775. A breakdown below $0.00765 would signal a retest of lower supports.
Disclaimer:My plan. Not advice. Trade your own risk.
