#PAXG pass from $5,075 to a minimum of $4,894 in record time. The previous bullish structure has been invalidated by breaking the 99-period moving average. But where most see panic, many see profits.
ANALYSIS
Action plan:
If you are looking to sell (Short): Wait for a bounce towards $4,980 - $5,000. If the price fails to surpass them, it is a sign of weakness to look for the lows again.
If you are looking to buy (Long): Do not enter impulsively. It is only safe if the price recovers and consolidates above $5,020.
Verdict: The market is wounded. As long as we are below $5,020, the risk of another drop is high.
Important note: The market has cleaned out the leveraged positions. Right now, patience pays more than bravery. Watch the $5,000 zone: if it can't surpass it, we're going down again.
Do you think that $4,894 was the bottom or will we retest it? Your opinion matters, I read you in the comments! 👇
