📉 2.9x Sell Volume Spike on $IDOL , distribution or shakeout?
- After such an extreme event, I expect further volatility and possible continuation of the correction. Price may attempt to bounce, but unless it quickly reclaims and holds above 0.02698 or 0.02833 with strong confirmation, sellers remain in control
- My main expectation is for the price to test/support at 0.02551, and if that fails, likely dip into the demand/FVG zone at 0.02454–0.02353. This is where I'd watch for buyer reaction
- If you want to short, wait for a failed bounce or bearish reversal at 0.02698 or 0.02833, then target the 0.02551 and 0.02454 zones
- If looking for a long, only consider after strong bullish reversal in the 0.02454–0.02353 demand/FVG area
- Confirmations you should wait for: bearish engulfing or pin bars at resistance for shorts, clear bullish reversal candles or rapid recoveries from demand for longs, or lower timeframe trend shifts for either direction
- If price breaks and holds above 0.02833, this would invalidate the bearish thesis and could signal a new bullish leg, so watch for structure shifts
