$AKE 🔻
$AKE just dumped 10.0%, short opportunity?
- The massive 15m dump on a volume spike strongly suggests the move was driven by liquidations or a stop sweep. This is often followed by either a quick relief bounce or more grinding downside if sellers remain in control.
- I expect the price to first test the 0.0003400–0.0003289 support region. If there is no sharp absorption or reversal signal, more downside towards 0.0003200–0.0002950 is likely.
- For a short, the ideal setup is to wait for price to rally back toward 0.0003647 or 0.0003745 (equilibrium) and show clear rejection (such as a bearish engulfing, rejection wick, or lower high on the 5m/1m). Entry near these levels, with take profit targets at 0.0003400, 0.0003289, and 0.0003200. Place the stop-loss above the local swing high that forms on the attempted rally.
- For a long countertrend scalp, only consider it if you see a dramatic liquidity sweep below 0.0003400 with massive wicks and instant absorption, confirmed by a bullish reversal candle or strong lower timeframe bounce. Take profit at 0.0003647 and 0.0003745 (equilibrium). Put stop-loss below the swing low that forms during the wick.
- My bias remains bearish as long as price stays below 0.0003647 and especially below 0.0003745 (equilibrium). If price closes above 0.0004100 with strong momentum, I’d expect a reversal toward 0.0004563 and higher.
📝 This is not investment advice, but an educational analysis to help you understand how to react to extreme moves and plan trades based on smart money concepts and price action. Stay safe and always wait for confirmation before entering trades in high-volatility conditions!
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#AKE