$Q has been very good to me before 😋 so I keep a close eye on it. This is NOT a trade setup, only my analysis 👇🏻
Right now price is sitting on a support zone, but look at how it reacts: it keeps getting rejected from the area and can't build strength. There's a chance support breaks and price pushes up from here, and I'm not hiding that. I don't have an exact view on the next candle, but I'm still leaning bearish.
The reason is the demand zone at $0.026 🎯 In my view it's the easier area for price to reach. A demand zone like that holds resting orders, and price likes to move toward them first. Only after that do I expect a real bounce.
If that happens, the bounce can push up toward the resistance zone at $0.030 and then the supply zone at $0.0315 above it. That's where sellers can show up again, so I'll be watching it closely.
The map for me looks like this:
Support now → demand zone $0.026 → bounce → resistance $0.030 → supply $0.0315
If price starts accepting above $0.030 instead, I'd drop the lower move completely. No entry, no TP, no SL here, just the zones I'm watching 👀
Right now price is sitting on a support zone, but look at how it reacts: it keeps getting rejected from the area and can't build strength. There's a chance support breaks and price pushes up from here, and I'm not hiding that. I don't have an exact view on the next candle, but I'm still leaning bearish.
The reason is the demand zone at $0.026 🎯 In my view it's the easier area for price to reach. A demand zone like that holds resting orders, and price likes to move toward them first. Only after that do I expect a real bounce.
If that happens, the bounce can push up toward the resistance zone at $0.030 and then the supply zone at $0.0315 above it. That's where sellers can show up again, so I'll be watching it closely.
The map for me looks like this:
Support now → demand zone $0.026 → bounce → resistance $0.030 → supply $0.0315
If price starts accepting above $0.030 instead, I'd drop the lower move completely. No entry, no TP, no SL here, just the zones I'm watching 👀
