$BASED
🔥 Massive Sell-Side Volume on $BASED at 9.5x
- I expect continued bearish momentum, as this kind of abnormal volume spike and rapid sell-off is usually driven by smart money distribution or cascade liquidations, not just retail panic.
- The price is likely to test 0.08803 and possibly push towards 0.08716 and even 0.08326 if selling persists.
- Potential trade setup: If price retraces to 0.09181 and shows rejection (wicking above and closing below, or a strong bearish candle on 5m/15m), consider entering a short with take profit targets at 0.08803, 0.08716, and 0.08326. Place your stop-loss above the swing high that forms on the retrace (ideally above 0.09365 or whatever local top forms).
- If price instead quickly reclaims 0.09181 and pushes above the equilibrium at 0.089795 with strong bullish candles and volume, this could signal a reversal and short covering—avoid shorts in that case and wait for a clear new structure.
- Example confirmation: Watch for a bearish engulfing candle or failed breakout above 0.09181 on the 5m or 15m chart, or a clear lower high to form after a small relief rally. Enter only after seeing signs of sellers regaining control.
- Do not chase the move down here; await a bounce and confirmation of weakness for new shorts.
📝 This is not investment advice, but an educational report to help you understand the current dynamics and smart money behavior. Trade safely and always wait for confirmation before making moves, especially after high-volatility events like this!
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#BASED