Another brave soul jumped in to catch the falling knife, huh? $PTB dropped 13.6% today, crashing from 0.0008852 all the way down to 0.0007288, with a trading volume of 3.7 billion coins. The market cap isn't small, but is this panic selling or a trend reversal?
Looking at this price, it's nearly closing at the bottom. The dip buyers are getting buried wave after wave. Retail traders love to chase pumps at high prices and cut losses at lows. Right now, we're just a step away from the support level of 0.0007; if it breaks, it’s a bottomless pit. If it holds, there might be a dead cat bounce, but don’t expect a return to previous highs. Open interest is still rising, indicating that bulls and bears are still battling it out, while no one is picking up in the spot market.
Don't fool yourself with the golden pit; just because it's not dropping doesn't mean it will rise. Wait until the volume shrinks to a minimum, and the panic sellers are cleared out before considering a buy. Jumping in now is likely just giving the whales some fuel.
#超跌反弹 #PTB
Looking at this price, it's nearly closing at the bottom. The dip buyers are getting buried wave after wave. Retail traders love to chase pumps at high prices and cut losses at lows. Right now, we're just a step away from the support level of 0.0007; if it breaks, it’s a bottomless pit. If it holds, there might be a dead cat bounce, but don’t expect a return to previous highs. Open interest is still rising, indicating that bulls and bears are still battling it out, while no one is picking up in the spot market.
Don't fool yourself with the golden pit; just because it's not dropping doesn't mean it will rise. Wait until the volume shrinks to a minimum, and the panic sellers are cleared out before considering a buy. Jumping in now is likely just giving the whales some fuel.
#超跌反弹 #PTB