Here we go again with
$DEXE , a gem that has got everyone "on the edge of their seats" as it hovers around the $18.6 mark while the market is in the red. Is this a safe accumulation zone gearing up for a breakout or just a classic liquidity trap before a free fall?
Looking at the 15-minute and 1-hour charts, I can clearly see the struggle of the bulls:
🔹 On the 15-minute frame: The price is sitting below both the MA(20) at 18.79 and the EMA(9) at 18.69. This indicates that the bears are currently in control in the short term, and any recovery attempts could easily get "smacked" back down when they hit these moving averages.
🔹 On the 1-hour frame: The situation isn't much better with the MA(20) positioned at 18.98 and the EMA(9) at 18.86. This is a solid resistance zone that the bulls need to clear if they want to regain a leading position.
From my hard-earned experience, the market is currently very "thirsty" for liquidity. Personally, I won't try to catch the falling knife when the price is below such crucial technical indicators. I will patiently wait for a strong stop-loss sweep before taking action.
My personal setup for this gem:
🎯 Position: LONG
🎯 Entry: Targeting the $18.2 - $18.3 area (when there's a signal to lift off).
🎯 TP: Taking profits at $19.5 and $20.2.
🎯 SL: Hard stop-loss at $17.8 (if it closes a 1-hour candle below this zone, I’m out).
If I miss the Entry, I’ll just sit back and watch the market play out. Trading is a game of patience, not a race to see who can hit the button faster.
What are you guys holding,
$DEXE , or waiting to "catch the bottom" at which price level? Share with me.
#Crypto #Trading #DEXE
Note: This is a personal viewpoint, not investment advice. Trading always comes with risks (DYOR).