$1000000BOB 🏋️
$1000000BOB hit with 5.7x sell volume spike, is this over or just starting?
- Given the overwhelming bearish momentum, strong volume anomaly, and all indicators pointing down, I expect further short-term downside. It looks like panic selling/distribution, but the sweep below the most recent swing low could set up a short-term bounce if absorption occurs.
- If price retests and gets rejected at 0.01306–0.01340, that's an ideal spot for a short entry, targeting 0.01221 and then 0.01182. Wait for confirmations such as a bearish engulfing, pin bar, or M5/M1 failed bounce before entering. Stop-loss should go above the most recent swing high of the rejection zone.
- If, instead, buyers absorb the sell-off and price reclaims 0.01306–0.01340 with strong bullish candles and volume, a quick scalp to 0.01380–0.01406 is possible, but this would be a countertrend play and needs fast confirmation.
- The trend will remain bearish unless there’s a sustained close above 0.01406 with volume and strong momentum shift. If that happens, bias flips to bullish with targets at 0.01441 and higher.
- Until then, the most probable move is further downside toward 0.01221 and 0.01182.
📝 This is not investment advice, just an educational analysis. Trade carefully and always wait for clear confirmation before entering a position, especially after such a large volume spike and sharp move!
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#1000000BOB