$SOXS A 20% plunge in a single day. At 56.8, I’m doing just one thing: waiting to see whether it gives us another chance to test the lows.

Let’s lock in the plan: scale in between 55.2 and 56.0, with a stop loss at 53.8 (if it breaks below the defensive level beneath the 24h low of 54.86, I’ll admit I’m wrong and exit). First take-profit at 60.5, second at 64.8. Keep the position under 15% of total capital and enter in three tranches. I won’t chase at the current price of 56.8: it’s too close to the stop and too far from the take-profit, so the risk-reward ratio isn’t worthwhile.
Bullish case: 24h trading volume is 903M, indicating concentrated selling pressure rather than a slow decline on low volume, with panic selling being cleared out efficiently. The intraday drop from 78.49 to 54.86 was deep and sharp. This kind of move is usually driven by forced selling from liquidations, not a fundamental collapse. Around 56, roughly 4% above the intraday low, is a cost zone where short-term capital is willing to take a chance.
The downside risks need to be clear too: a 20% drop in 24h means the trend is not over yet. A rebound above 60 will face selling pressure from today’s trapped holders looking to break even. The 64.8 level was a consolidation platform during today’s decline, so the price will probably be rejected on its first test. That’s why take-profits must be taken in stages—don’t get greedy.
There are no signs today of abnormal spikes in on-chain transfers, which suggests this isn’t a project team dump but more likely a market sentiment-driven selloff. This kind of selloff can recover quickly, but only if volume contracts. My rule: I’ll buy around 55 only if volume contracts; I won’t buy into a high-volume drop.
Remember the key levels: 55.2–56.0 is my cost zone, 53.8 is my line in the sand, I’ll take half off at 60.5, and exit completely at 64.8. The current price of 56.8 is in the middle ground: I won’t chase or sell into weakness. I’ll wait for it to come into my zone.
I’m disciplined about buying low and selling high. I share plans, not emotions. Follow me so you won’t panic the next time there’s a wick down.
No trades outside the plan. #每周来晒 #Gate广场中秋团圆局