🔥 $POLYX straight-up bullish right now, but I wouldn't be shocked if we see a quick dip or some sideways action soon. That breakout's been wild.
Volume-wise, check out that monster spike on the 1-hour candle volume hitting 220M+. That's textbook breakout volume, no doubt buyers were all in. The follow-up candles are still decent but volumes are easing off, which usually means we might need fresh juice to keep climbing. Don't ignore that.
On capital flows, perps are mostly bleeding out with negative net flows (like -262k in 5m, -218k in 15m, -151k in 1H), and that funding rate's in the red too – screams shorts getting positioned. But spot's flipping the script with some positive inflows lately ( +5.3k in 5m, +21.2k in 15m), even if longer terms are negative. This setup? Classic short squeeze fuel, where spot buying crushes the futures crowd. Love when that happens.
Overall, I'm staying cautiously bullish $POLYX – dip buys all the way. The squeeze vibes are strong, but it's overbought like crazy with that negative funding, so no chasing highs for me.
For entries, I'd chill and wait for a pullback. Sweet spot: retest the old resistance (now support) around 0.0568-0.0573, maybe near the Bollinger upper. If it drops more, look at 0.0518-0.0524 where the 20MA and Bollinger middle meet (close to Support). Jump in on a bounce signal, like a hammer or volume pop.
Stop loss: Keep it tight, say 3-4% under entry. If you're in at 0.057, stop at 0.0547-ish.
Targets $POLYX : First off, Resistance at 0.062, then next resistance at 0.0657
You guys seeing the same on POLYX? #POLYX #POLYXUSDT #polymesh