$RAVE 🆘 Double Alert: 4.7% Drop & 5.1x Volume on
$RAVE - With this extreme volume and sharp selloff, there’s a high probability we see continued volatility and further downside unless price can reclaim and hold above 0.3174–0.3217.
- My bias is that there’s likely more downside or at least a retest of lower levels like 0.305 and potentially 0.2979 or 0.2900, especially if relief bounces are weak.
- If you want to short, wait for price to bounce/reject at 0.3158–0.3174 or 0.3217–0.327. Enter **only** after confirmation: look for bearish candlestick patterns (like a pin bar, shooting star, or bearish engulfing), or a failed sweep of these levels where price quickly retraces.
- Take profit targets for shorts: first at 0.305, then 0.2979, and possibly 0.2900 if the cascade continues.
- Place your stop-loss above the swing high of the rejection area (for example above 0.327 if shorting there).
- If price manages to reclaim and hold above 0.327 with strong volume and closes, then the bearish thesis is invalidated and I’d expect a short squeeze toward 0.3443 or higher.
- This is not a bottom until you see a clear reversal pattern with strong absorption of selling and a reclaim of key levels. If you want to try catching a reversal long, wait for a strong reversal candle on the 15m or a lower timeframe, plus a reclaim of 0.3158, and take profit quickly into resistance.
📝 This is not investment advice, just an educational analysis report for your learning. Trade safe and wait for clear confirmations!
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