$LAB 🌊
$LAB crashing 11.8% with 3.2x volume surge
- Given the huge spike in selling volume and the brutal price drop, I expect price to either consolidate below 6.800 or attempt a relief rally up toward 6.800–7.371, where it will likely meet heavy resistance and sellers will step in again.
- If you want to short, the optimal setup is to wait for a weak bounce into one of these resistance zones (6.800 or 7.371), then look for clear bearish confirmation (e.g., a bearish engulfing candle, rejection with high volume, or reversal patterns on 5m/1m charts).
- Example: If price bounces to 6.800 and forms a clear reversal candle (like a pin bar or bearish engulfing) with rising sell volume, consider entering a short there. Take profit targets could be 6.400 and 5.803. Stop-loss should be placed above the recent swing high of the rejection candle.
- If, instead, price quickly reclaims 6.800 and closes firmly above it, especially with volume, I would avoid shorting and wait for a move to the next resistance (7.371+) before considering fresh shorts.
- More downside is likely in the short term, but beware of fast bounces. If price stalls and consolidates above 6.800 with buying volume, the selling could be exhausted for now, and a short squeeze toward 7.371 or higher might follow.
📝 This is not investment advice, only an educational report. With moves like this, patience and confirmation are your friends. Wait for the setup and don’t chase after a massive move without a clear signal!
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