$ZBT This chart has clearly exposed the issue.
We just went through a brutal drop, with prices crashing from 0.26 all the way down to below 0.16, and the bears hardly gave us any breathing room.
Although there was a weak bounce afterwards, the real problem is: once the price rebounded to the 0.19โ0.20 zone, the bulls clearly started to lose steam.
This level coincides with a significant accumulation area before the major drop.
In other words, many stuck funds start to bail out as soon as there's a bounce.
The last two candlesticks are even more crucial: weโve seen a clear โbear engulfingโ pattern with noticeably increased volume at highs.
Such a setup isn't usually a good sign.
Because the volume spike isn't happening at a low, but rather in a pressure zone, indicating heavy selling pressure here.
To put it bluntly, it feels more like: the whales are using the bounce to offloadโwhile retail traders think itโs a reversalโonly to end up holding the bags at the highs.
Currently, the market structure still favors the bears.
If we continue to see volume increasing but the price fails to push higher, we should be wary of another accelerated drop.
#ZBT #BTC