A 245% rally from the $0.11 zone on $STX still doesn't protect you from a full unwind if the higher timeframe structure breaks.
Traders keep FOMO buying after the weekly close above $0.40 thinking they've caught the Bitcoin L2 move then panic when it retests and they have no idea where the invalidation sits.
The $0.15 to $0.11 accumulation filled out completely with liquidity getting swept right into that HTF bullish order block. First target at $0.3890 already hit and the multi-year trendline got reclaimed.
Macro levels at $1, $2 and $3.86 look ambitious from here, that's over 3000% from the original entry if it plays out. The problem is the stop. A HTF close below $0.1185 kills the thesis and even breakeven becomes the best case. These $STX moves as a Bitcoin L2 tend to follow $BTC pretty tightly, more than some of the $ETH L2 rotations that can decouple. Ignoring that after a 245% pump is how most people give it all back.
Where do you see the real risk on these charts right now?
#STX #BitcoinL2 #RiskManagement
Traders keep FOMO buying after the weekly close above $0.40 thinking they've caught the Bitcoin L2 move then panic when it retests and they have no idea where the invalidation sits.
The $0.15 to $0.11 accumulation filled out completely with liquidity getting swept right into that HTF bullish order block. First target at $0.3890 already hit and the multi-year trendline got reclaimed.
Macro levels at $1, $2 and $3.86 look ambitious from here, that's over 3000% from the original entry if it plays out. The problem is the stop. A HTF close below $0.1185 kills the thesis and even breakeven becomes the best case. These $STX moves as a Bitcoin L2 tend to follow $BTC pretty tightly, more than some of the $ETH L2 rotations that can decouple. Ignoring that after a 245% pump is how most people give it all back.
Where do you see the real risk on these charts right now?
#STX #BitcoinL2 #RiskManagement