While Bitcoin drifted under $80,000 today, I kept coming back to a quieter chart: $XDC.
I've been watching it slide for almost two weeks, from around $0.0350 down to $0.0307 on Monday morning. Then Monday's late-morning candle changed the tape — it closed at $0.0329 on 23 million in volume, the heaviest candle in the 12-day window I'm looking at.
Since then it has held above $0.0330 and reached $0.0342 this afternoon. That's roughly 11% off Monday's low, while the big coin went nowhere.
What changes my mind is a 4-hour close back under $0.0307. My lines are $0.0307 below and $0.0350 above — the area where the last three rallies ran out of steam.
The part that keeps me from getting comfortable: this bounce is still underneath that $0.0350 ceiling, and a failed retest sends it straight back toward the low.
Were you watching that $0.0307 tap, or did this bounce catch you flat-footed?
Not financial advice. Do your own research.
$XDC #Altcoins #XDC #Layer1
I've been watching it slide for almost two weeks, from around $0.0350 down to $0.0307 on Monday morning. Then Monday's late-morning candle changed the tape — it closed at $0.0329 on 23 million in volume, the heaviest candle in the 12-day window I'm looking at.
Since then it has held above $0.0330 and reached $0.0342 this afternoon. That's roughly 11% off Monday's low, while the big coin went nowhere.
What changes my mind is a 4-hour close back under $0.0307. My lines are $0.0307 below and $0.0350 above — the area where the last three rallies ran out of steam.
The part that keeps me from getting comfortable: this bounce is still underneath that $0.0350 ceiling, and a failed retest sends it straight back toward the low.
Were you watching that $0.0307 tap, or did this bounce catch you flat-footed?
Not financial advice. Do your own research.
$XDC #Altcoins #XDC #Layer1
