$COOKIE 💔 5.1x Sell Volume Spike on
$COOKIE , distribution or shakeout?
- This looks like distribution by smart money, not just panic selling — the volume spike after a strong rally, followed by a swift dump, is classic topping/distribution behavior.
- I expect further downside, with price likely to target the 0.0087 FVG for a fill. If supply overwhelms, a move toward 0.0082 is likely.
- Trade setup example: If price bounces to 0.0097–0.0100 but fails to break above with a bearish formation (like a pin bar, bearish engulfing, or lower timeframe trend break), a short could be entered there. Target 0.0087 and 0.0082, with stop-loss above the swing high at 0.0100–0.0105.
- If price instead breaks above 0.0100 and holds, re-evaluate, as that would signal possible accumulation rather than distribution.
- Do not enter short immediately after a sharp drop — always wait for a weak bounce and rejection or a lower high to develop as confirmation.
📝 This is not investment advice, only an educational report! Please wait for proper confirmation before taking any trades and manage your risk at all times.
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#COOKIE