Traders... we all watched how heavily $IRYS bled out today, dropping -8.21% down to $0.01700. But did you spot the hidden setup here ❓
While retail is busy panic-selling, market data is flashing some very interesting numbers. Even with the downward pressure, the Long/Short ratio for accounts sits strong at 2.66 (72.66% long accounts vs. 27.34% short accounts), and top traders are holding a 1.24 position ratio.
With a market cap of $43.7M and circulating supply at 2.57B IRYS, buyers are starting to show signs of life near these local lows. I am taking a small speculative LONG position right here.
Not expecting a miraculous overnight pump... the lower timeframe momentum is still heavy, but this zone is where accumulation often begins.
🟢 LONG $IRYS/USDT
✅ Entry: $0.01700
🎯 TP 1: $0.0185
🎯 TP 2: $0.0200+
🛑 SL: $0.0162
I am keeping my initial exposure light... will scale in only if $IRYS builds a proper base and flips market structure.
Remember... calculating your entry near key support with strict risk management is essential, rather than blindly chasing falling knives. And if the $0.0165 support completely breaks down, this bounce thesis invalidates quickly.
I would rather enter carefully and scale up than go heavy right away and watch my margin bleed out 📉 $BTC
While retail is busy panic-selling, market data is flashing some very interesting numbers. Even with the downward pressure, the Long/Short ratio for accounts sits strong at 2.66 (72.66% long accounts vs. 27.34% short accounts), and top traders are holding a 1.24 position ratio.
With a market cap of $43.7M and circulating supply at 2.57B IRYS, buyers are starting to show signs of life near these local lows. I am taking a small speculative LONG position right here.
Not expecting a miraculous overnight pump... the lower timeframe momentum is still heavy, but this zone is where accumulation often begins.
🟢 LONG $IRYS/USDT
✅ Entry: $0.01700
🎯 TP 1: $0.0185
🎯 TP 2: $0.0200+
🛑 SL: $0.0162
I am keeping my initial exposure light... will scale in only if $IRYS builds a proper base and flips market structure.
Remember... calculating your entry near key support with strict risk management is essential, rather than blindly chasing falling knives. And if the $0.0165 support completely breaks down, this bounce thesis invalidates quickly.
I would rather enter carefully and scale up than go heavy right away and watch my margin bleed out 📉 $BTC
