🔥 $MYX — BASE BUILDING AFTER DOWNTREND, EARLY REVERSAL ATTEMPT 🔥
⏱ 4H timeframe | Binance Perp
Current price around 5.53, up ~8.5% on the day, but still trading inside a broader recovery structure after a prolonged downtrend. This is not a breakout yet, but a potential base-to-reversal setup.
What the chart is telling us:
• 📉 Long period of grinding downside / distribution, sellers were in control
• 🔄 Price flushed the lows and reacted from the demand zone
• 📈 Recent bounce reclaimed the 5.5 area, suggesting selling pressure is weakening
Key levels to focus on:
• Immediate support: 5.2 – 5.4
→ Holding above this zone keeps the reversal idea alive
• Invalidation: below ~5.0
→ Lose this level and price likely continues ranging or resumes the downtrend
• Upside targets: 7.5 → 10.0 → 15.0
→ Only valid if structure flips and momentum follows
How to approach this setup:
• This is an early positioning zone, not a confirmation trade
• Best case: price bases above 5.5, builds higher lows, then expands
• Worst case: weak bounce → range continuation
💡 These are the charts where patience pays more than aggression — wait for confirmation before sizing up.
🧭 Hands steady — this is the “structure-building” phase, not the explosion yet.
