Everyone, I’m planning to open a large long position on
$CYPH .
Take profit: 2.782
Stop loss: 2.3223 👇
You may be wondering the obvious question: why am I going long here?
The price is low enough. The latest 15-minute candle closed at 2.404. The 20-day range is 2.334 to 3.56, and it’s now only at the 5.7th percentile.
It slid all the way from the top of the range at 3.56 to the bottom at 2.334, falling 22.10% in seven days. Most of the selling that needed to happen has probably already happened.
Honestly, I don’t chase the hype. I look for where the risk-reward makes sense.
$BTC and
$ETH have also been trending down over the past couple of days. Money is flowing out of the broader market, and smaller coins get hit first. Naturally, they’re also the first to bounce.
The direction is long, not short, for a straightforward reason: the most profitable part of the downtrend is already behind us. Pushing lower now doesn’t leave enough room to cover the fees.
This market is thin, and when liquidity dries up, the price can easily make a sharp move. It doesn’t take much buying pressure returning for a bounce to happen faster than the drop.
Why set the take profit at 2.782? That’s +15.72% from the current price, back to the lower-middle part of the range. That’s probably where the first bounce will reach.
The stop loss is at 2.3223, giving it a 0.5% buffer below the 2.334 low. If it closes below that level, I’ll admit I’m wrong and get out—no holding on.
Two rules upfront: the take profit is right at the 15.72% daily average volatility level, while the stop loss is only 3.40%. The entire trade stays within that range.
Risk-reward ratio: 4.63.
Would you like to wait for this bounce with me? Let’s talk in the comments.
#CYPH #XPIN #Crypto
The above is a record of my personal trading system and observations of market data. It does not constitute investment advice.