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The Story Behind This Candle
Look at that wick. On listing day $IRYS pumped to $0.50406 and then dumped almost 88% to $0.03880.
Right now it's at $0.06223, up +49% for the day. That green number is fooling everyone. It's not a new pump, it's just a bounce from the bottom. The 24h Volume is insane - $2.83 Billion. That means whales are still very active here.
What The Indicators Are Saying
On your 15m chart:
1. Moving Averages - Still Bearish
MA(7): 0.06468
MA(25): 0.07224
MA(99): 0.08505
Price is trading BELOW all three. Every MA above is now acting as a resistance. Until we break back above 0.0646, sellers are in control.
2. MACD - Tired Sellers
DIF: -0.00552 / DEA: -0.00549
It's deep in the negative zone but going flat. Selling is exhausted, but buyers haven't stepped in yet. It's pure consolidation.
3. Structure
After that massive dump, price is making lower highs. That's a downtrend, not accumulation.
The 2 Trading Scenarios (For Your Video)
Not financial advice, just for education.
The Safe Bearish Idea - Sell The Bounce
Most new listings do this.
Entry Zone: $0.0645 - $0.072
Target 1: $0.050
Target 2: $0.041 (the recent low)
Stop Loss: A close above $0.085
$MAGY.ETF $MSTRB
The Story Behind This Candle
Look at that wick. On listing day $IRYS pumped to $0.50406 and then dumped almost 88% to $0.03880.
Right now it's at $0.06223, up +49% for the day. That green number is fooling everyone. It's not a new pump, it's just a bounce from the bottom. The 24h Volume is insane - $2.83 Billion. That means whales are still very active here.
What The Indicators Are Saying
On your 15m chart:
1. Moving Averages - Still Bearish
MA(7): 0.06468
MA(25): 0.07224
MA(99): 0.08505
Price is trading BELOW all three. Every MA above is now acting as a resistance. Until we break back above 0.0646, sellers are in control.
2. MACD - Tired Sellers
DIF: -0.00552 / DEA: -0.00549
It's deep in the negative zone but going flat. Selling is exhausted, but buyers haven't stepped in yet. It's pure consolidation.
3. Structure
After that massive dump, price is making lower highs. That's a downtrend, not accumulation.
The 2 Trading Scenarios (For Your Video)
Not financial advice, just for education.
The Safe Bearish Idea - Sell The Bounce
Most new listings do this.
Entry Zone: $0.0645 - $0.072
Target 1: $0.050
Target 2: $0.041 (the recent low)
Stop Loss: A close above $0.085
$MAGY.ETF $MSTRB