$PIVX ⬇️ 3.5x Sell Volume Spike on
$PIVX , distribution or shakeout?
- I expect further weakness for PIVXUSDT after a selloff of this magnitude, especially with no signs of strong absorption or reversal yet. Smart money often distributes into aggressive panic selling, and unless we see clear demand stepping in, the path of least resistance remains down.
- The best trade setup is to wait for a weak bounce to the 0.0476–0.0496 resistance region, watch for a rejection (such as a bearish engulfing, lower-high formation, or supply absorption) and then enter a short position.
- Entry example: Wait for price to retrace to 0.0476–0.0496, then look for a bearish reversal pattern (like a pin bar, engulfing, or breakdown on a 5m chart). Enter short if confirmation appears.
- First target: 0.043, next targets: 0.0413, 0.0396, with a final target at 0.036 or 0.0318 if momentum accelerates.
- Place stop-loss above the swing high or above 0.0496, where your short bias would be invalidated by a clean break and close.
- If, instead, price forms a strong reversal with absorption below 0.0413 and immediately reclaims 0.043 with high volume buyback, look for a scalp long to 0.0476. However, this is less likely given the current structure.
- If price breaks through the 0.0496 supply and starts closing 15m candles above 0.0540 with strength, re-evaluate for a possible reversal or a squeeze run toward the most recent high.
📝 This is not investment advice, but an educational report. Trade carefully around such volume spikes, and always confirm with lower timeframe price action before entries!
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