📊 Cycle Structure:
⬆️ HWC (Higher Wave Cycle): Bullish
⬆️ MWC (Middle Wave Cycle): Bullish
🔁 LWC (Lower Wave Cycle): Ranging (Neutral, no clear direction)
📌 Always keep cycles in mind — they are key tools to understand both long-term and short-term trends and help us manage risk better.
📉 Price Action Inside the Channel:
Price is moving inside a defined channel.
We’ve seen about 6 touches to the channel bottom, but the 5th and 6th touches were weak and didn’t even reach the mid-channel line. This shows buyer weakness at the support zone.
Candles and volume also indicate bearish pressure.
🔄 Conflicting Signals:
Cycles suggest avoiding shorts and keeping a long bias.
But the channel and bearish pressure indicate a possible breakdown.
⚠️ Risk Management:
This is where risk management saves the day!
Enter long with low risk.
Place a tight stop loss so if price moves against us, we exit fast.
If the market moves in favor of longs, we can quickly take the position.
Also, quick profit-taking is advised since this move contradicts the cycle signals.
📍 Key Level:
105,250 — This level can trigger strong reactions but it’s not a confirmation for long entries. It’s mainly a good zone for taking profits and managing positions.
📌 If you want me to analyze a specific coin or pair, just drop a comment.
⚠️ Without proper risk management, you’re just a ticking time bomb.
— PXA
⬆️ HWC (Higher Wave Cycle): Bullish
⬆️ MWC (Middle Wave Cycle): Bullish
🔁 LWC (Lower Wave Cycle): Ranging (Neutral, no clear direction)
📌 Always keep cycles in mind — they are key tools to understand both long-term and short-term trends and help us manage risk better.
📉 Price Action Inside the Channel:
Price is moving inside a defined channel.
We’ve seen about 6 touches to the channel bottom, but the 5th and 6th touches were weak and didn’t even reach the mid-channel line. This shows buyer weakness at the support zone.
Candles and volume also indicate bearish pressure.
🔄 Conflicting Signals:
Cycles suggest avoiding shorts and keeping a long bias.
But the channel and bearish pressure indicate a possible breakdown.
⚠️ Risk Management:
This is where risk management saves the day!
Enter long with low risk.
Place a tight stop loss so if price moves against us, we exit fast.
If the market moves in favor of longs, we can quickly take the position.
Also, quick profit-taking is advised since this move contradicts the cycle signals.
📍 Key Level:
105,250 — This level can trigger strong reactions but it’s not a confirmation for long entries. It’s mainly a good zone for taking profits and managing positions.
📌 If you want me to analyze a specific coin or pair, just drop a comment.
⚠️ Without proper risk management, you’re just a ticking time bomb.
— PXA
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.