💥$WAXP
BEARISH SETUP: DOWNSIDE PRESSURE EXPECTED
$WAXP is showing early signs of bearish reversal after failing to sustain above the 0.00776–0.00780 resistance zone. Short-term charts indicate lower highs forming, signaling weakening bullish momentum. A confirmed breakdown below 0.00771 could accelerate the move toward key support levels.
Entry: Consider entering a short position on a breakdown below 0.00771 for higher probability trade.
Targets:
TP1: 0.00760 — immediate support
TP2: 0.00750 — mid-term support
TP3: 0.00740 — strong historical support
Stop Loss: 0.00780 — above recent swing high to avoid false breakout
Key Levels:
Resistance: 0.00772, 0.00776, 0.00780
Support: 0.00760, 0.00750, 0.00740, 0.00730
Pivot Zone: 0.00771
Risk Management: Risk 1–2% of trading capital per trade and adjust position size according to stop loss distance.