$LAB
🔻 2.6x Unusual Selling Volume on $LAB , what just happened?
- Given the violent selloff on high volume, I expect further downside or at least a retest of the lower supports before any meaningful reversal. This event looks more like smart money distribution than just panic selling, as multiple resistances have formed quickly overhead.
- If price climbs back up and gets strongly rejected between 10.490 and 10.731 on a bearish candle, a short setup could be considered with entry in that zone and take profit around 10.163 initially, then 8.912 or 8.705 if the selloff accelerates.
- Confirmation to wait for: bearish engulfing or pin bar rejection at resistance, or a breakdown and retest of 10.163 turning it into resistance from below.
- If price instead flushes below 9.352 and quickly reverses with a strong bullish candle, that could be a manipulation sweep by smart money, and a scalp long towards 10.163 could be considered, but only with a clear reversal signal.
- Stop-loss should be set above the swing high for shorts or below the sweep wick for longs, depending on the setup.
- My bias would shift to bullish only if price quickly reclaims and holds above 10.731 with bullish momentum and closes, invalidating this bearish continuation scenario.
📝 This is not investment advice, but an educational report. Please trade with proper risk management and always wait for confirmation before entering.
📊 Get detailed free analysis of any coin on any timeframe you want. Try Finora AI - Your Trade Buddy for free → tinyurl.com/FinoraBot
#LAB
🔻 2.6x Unusual Selling Volume on $LAB , what just happened?
- Given the violent selloff on high volume, I expect further downside or at least a retest of the lower supports before any meaningful reversal. This event looks more like smart money distribution than just panic selling, as multiple resistances have formed quickly overhead.
- If price climbs back up and gets strongly rejected between 10.490 and 10.731 on a bearish candle, a short setup could be considered with entry in that zone and take profit around 10.163 initially, then 8.912 or 8.705 if the selloff accelerates.
- Confirmation to wait for: bearish engulfing or pin bar rejection at resistance, or a breakdown and retest of 10.163 turning it into resistance from below.
- If price instead flushes below 9.352 and quickly reverses with a strong bullish candle, that could be a manipulation sweep by smart money, and a scalp long towards 10.163 could be considered, but only with a clear reversal signal.
- Stop-loss should be set above the swing high for shorts or below the sweep wick for longs, depending on the setup.
- My bias would shift to bullish only if price quickly reclaims and holds above 10.731 with bullish momentum and closes, invalidating this bearish continuation scenario.
📝 This is not investment advice, but an educational report. Please trade with proper risk management and always wait for confirmation before entering.
📊 Get detailed free analysis of any coin on any timeframe you want. Try Finora AI - Your Trade Buddy for free → tinyurl.com/FinoraBot
#LAB