$THE 🚨
$THE hit with 3.4x sell volume spike, is this over or just starting?
- Given the 3.4x volume anomaly and the sharp drop, this looks like engineered selling and possible liquidity sweep, likely by smart money rather than pure panic retail selling.
- As long as price stays below 0.0658 and 0.0657, I expect more downside, targeting 0.0641 first, then 0.0628, possibly 0.0612 if selling resumes.
- Short setup: Wait for a failed retest of 0.0657-0.0658 (look for a rejection candle or lower timeframe reversal pattern); if confirmed, enter short, take profit at 0.0641, with secondary target 0.0628. Place stop above the swing high made during the retest.
- Long setup: If price sweeps below 0.0639 (creating a liquidity grab) and quickly reclaims 0.0641 with strong bullish momentum or a reversal formation, enter long aiming for 0.0653 and 0.0657. Stop at the new swing low.
- Confirmation is key! For shorts, see rejection wicks, bearish engulfing, or a clear lower high on 1m/5m. For longs, look for a sharp V-reversal, double bottom, or engulfing after the sweep.
- If price manages to reclaim and hold above 0.0658 with bullish strength, short bias is invalidated, and I’d expect a squeeze to 0.0661 and maybe even a run on the most recent high at 0.0690.
📝 This is not investment advice, just an educational analysis. Always wait for confirmations and manage your risk!
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