🚨 PYTH/USDT: READY TO BREAK OUT OR ABOUT TO BECOME A LIQUIDITY TRAP?
Tonight, my attention is focused on PYTH (Pyth Network). Bitcoin has reclaimed the $82,500 area, while PYTH is trading around $0.079–$0.081, based on the available market snapshot.
PYTH trading volume is reported at around $55 million over 24 hours. The daily RSI is around 61, indicating positive momentum.
📊 PYTH/USDT TECHNICAL LEVELS
🟢 Support: $0.0785
🟢 Next support: $0.0744
🔴 Resistance: $0.0818
🔴 Next resistance: $0.0847–$0.0888
🐂 BULLISH SCENARIO
Don't FOMO as the price approaches resistance!
• Aggressive entry: $0.0785–$0.0791, only if a confirmed bullish rejection appears.
• Breakout entry: Wait for a 15-minute or 1-hour candle to close above $0.0818 with rising volume, then look for a retest that holds.
• TP1: $0.0847
• TP2: $0.0888
• Invalidation: Price breaks below the $0.0785 support and fails to reclaim it.
🐻 BEARISH SCENARIO
If PYTH is rejected at $0.0818 and then loses the $0.0785 support, a potential correction should be watched for.
• Short entry: After a breakdown below $0.0785 and a failed retest.
• TP1: $0.0744
• TP2: $0.0704
• Invalidation: Price reclaims $0.0818 with strong momentum.
🔎 LIQUIDITY SWEEP: DON'T GET CAUGHT IN A FALSE BREAKOUT!
Watch for two important signals:
1️⃣ Price sweeps the previous low, then rises again with a bullish candle and increasing volume. This could indicate a sell-side liquidity sweep.
2️⃣ Price breaks through resistance, but is immediately rejected and falls back below that level. Watch out for a buy-side liquidity sweep before a correction.
💡 Conclusion: PYTH is worth watching, but price and volume confirmation remain more important than simply seeing a green candle. The levels above are technical scenarios, not a guarantee of profit. Adjust your position size to your risk tolerance and always set a stop-loss.
$PYTH
#PYTHUSDT #priceaction #TechnicalAnalysis #LiquiditySweep #Breakout
Tonight, my attention is focused on PYTH (Pyth Network). Bitcoin has reclaimed the $82,500 area, while PYTH is trading around $0.079–$0.081, based on the available market snapshot.
PYTH trading volume is reported at around $55 million over 24 hours. The daily RSI is around 61, indicating positive momentum.
📊 PYTH/USDT TECHNICAL LEVELS
🟢 Support: $0.0785
🟢 Next support: $0.0744
🔴 Resistance: $0.0818
🔴 Next resistance: $0.0847–$0.0888
🐂 BULLISH SCENARIO
Don't FOMO as the price approaches resistance!
• Aggressive entry: $0.0785–$0.0791, only if a confirmed bullish rejection appears.
• Breakout entry: Wait for a 15-minute or 1-hour candle to close above $0.0818 with rising volume, then look for a retest that holds.
• TP1: $0.0847
• TP2: $0.0888
• Invalidation: Price breaks below the $0.0785 support and fails to reclaim it.
🐻 BEARISH SCENARIO
If PYTH is rejected at $0.0818 and then loses the $0.0785 support, a potential correction should be watched for.
• Short entry: After a breakdown below $0.0785 and a failed retest.
• TP1: $0.0744
• TP2: $0.0704
• Invalidation: Price reclaims $0.0818 with strong momentum.
🔎 LIQUIDITY SWEEP: DON'T GET CAUGHT IN A FALSE BREAKOUT!
Watch for two important signals:
1️⃣ Price sweeps the previous low, then rises again with a bullish candle and increasing volume. This could indicate a sell-side liquidity sweep.
2️⃣ Price breaks through resistance, but is immediately rejected and falls back below that level. Watch out for a buy-side liquidity sweep before a correction.
💡 Conclusion: PYTH is worth watching, but price and volume confirmation remain more important than simply seeing a green candle. The levels above are technical scenarios, not a guarantee of profit. Adjust your position size to your risk tolerance and always set a stop-loss.
$PYTH
#PYTHUSDT #priceaction #TechnicalAnalysis #LiquiditySweep #Breakout