Imx
Short IMX Potential bearish tradeToday we have another good opportunity risk reward short entry, for this bearish market.
In this case I am looking at some anomalies(big pumps without a reason inside a bear market) and short them when I believe they are close to top / ATH
Key points:
Type of entry : Short
Take profit level 1 : 1.6
Take profit level 2: 1.35 - 1.4
Stops loss : 2
LRC I stepped away for a bit and came back to my chart with some slightly different outlooks and ideas.
Still think we will touch trend once more, and I dont think we will repeat history and drop below trend before resuming an uptrend. Some people are calling for 50 cents, we cant see that, but we do think the next month will be red-ish/sideways.
Seems to me like august will be the area to resume a bull trend and until then we slowly creep upwards under 2 dollars..
IMX/USD bullish reversal soon? IMX is the L2 chain for NFT & Gamefi which can bring 9000+ TPS.
IMX investers have Galaxy Digital, Coinbase, Alameda Research and more more....
That's are strong background....
Let's look for the price!
After dropped more than 80%, seems IMX finding support level and waiting for reversak.
- RSI divergence
- MACD divergence
- RSI is oversold and oversold after GME sold their IMX
- First Target is 50MA around $2.3
- 4 hours creating higher low
- Volime also keep going down and waiting for volume breakout....
For my perspective, if Gamefi/NFT still hot in future,
IMX is easy bring 5-10 x even more in long term...
This is not financial advice. Just my point of view.
You're welcome to leave your comment if you want further discussion.
Thanks GameStopFor dumping 14 million imx tokens you recieved on apes/retail.
You can see we broke down, broke up again and then we broke back down below but holding. The weekend will probably determine where we go.
Clearly not enough interest to keep this afloat and I believe it's mostly due to Very negative social sentiment. Leads me to believe this will be dropping further as one looking to get into imx will not be drawn in expecting further downtrend. LRC looks to have the better social sentiment at the moment.
Holding on the daily so far. Pucker up crypto is a rollercoaster.
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It will follow the channel to the upward which could be match based on Fibonacci levels. Time is not predictable, therefore whenever the price reaches to the top you can close your position. Our expectation is around $14.