#BNXUSDT is weakening expecting a drop

📉 SHORT $BYBIT:BNXUSDT.P from $0.6458
🛡 Stop Loss: $0.6800

⏱ 1H Timeframe

✅ Overview:
➡️ $BYBIT:BNXUSDT.P is near resistance at $0.6853, showing signs of weakness.
➡️ A pullback is expected after failing to hold above $0.6550.
➡️ Targeting support levels at $0.6060 → $0.5642.

⚡ Plan:
✅ Bearish scenario confirmation – price needs to break $0.6550 and stay below it. If confirmed, the short position remains valid.
✅ Critical resistance level – $0.6853. If the price moves above $0.6800, the trend may shift bullish, invalidating the setup.
✅ Volume analysis shows weakening buying interest, supporting the possibility of a correction.
✅ Profit-taking zones – $0.6060 → $0.5642. If price slows down around $0.6060, a bounce is possible, so partial profit-taking is recommended.
✅ Alternative scenario – if price bounces from $0.6060, a long position with a tight stop could be considered.

📍 Take Profit targets:
🎯 TP1: $0.6060 – testing the nearest support level.
💎 TP2: $0.5642 – deeper correction zone.

🚀 $BYBIT:BNXUSDT.P is weakening — expecting a drop to $0.5642!


📢 A break below $0.6550 confirms the bearish scenario.
📢 Holding below this level strengthens the case for further decline.
📢 If price surges above $0.6800, the setup is invalidated.