Oct 10, 17:00 — $STX finally let go of its bearish flag on the 1h, and honestly the volume is what sold me.
The breakdown candle ripped through the heavy $0.391 zone on ~1.9M — the biggest print in three days. Volume lining up exactly behind the direction of the break is the whole tell: this looks like a real one, not a stop hunt. Roughly 4.2R of air down to the measured targets.
How I'd frame it: short $STX near $0.3908, dead wrong above $0.4023. That $0.402–$0.413 band has stuffed every rally attempt lately — real supply overhead. $0.3728 first (yesterday morning's lows, obvious magnet), $0.3428 second if the tape keeps trending.
But here's the wrinkle I can't ignore: 59.1% of that breakdown candle was aggressive buying. Somebody down there is hoovering up every red candle. If $0.4023 prints again, this whole thing is scrap — full stop.
One setup, small, stop in stone. Loud-volume breaks get my attention; the tape keeps the ego in check.
Not financial advice.
#STX #Altcoins #CryptoTrading #TechnicalAnalysis
The breakdown candle ripped through the heavy $0.391 zone on ~1.9M — the biggest print in three days. Volume lining up exactly behind the direction of the break is the whole tell: this looks like a real one, not a stop hunt. Roughly 4.2R of air down to the measured targets.
How I'd frame it: short $STX near $0.3908, dead wrong above $0.4023. That $0.402–$0.413 band has stuffed every rally attempt lately — real supply overhead. $0.3728 first (yesterday morning's lows, obvious magnet), $0.3428 second if the tape keeps trending.
But here's the wrinkle I can't ignore: 59.1% of that breakdown candle was aggressive buying. Somebody down there is hoovering up every red candle. If $0.4023 prints again, this whole thing is scrap — full stop.
One setup, small, stop in stone. Loud-volume breaks get my attention; the tape keeps the ego in check.
Not financial advice.
#STX #Altcoins #CryptoTrading #TechnicalAnalysis