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$SHELL Consolidating with a bearish lean – feels like it's losing steam.
Volume: Latest kline is super quiet (only ~55k), especially compared to those monster sell-off candles we saw before (like 170M+ back on that big dump). Small body, low volume = classic indecision. Buyers just aren't showing up strong here.
Capital flows: Short-term contracts are bleeding outflows hard (-32k on 5m, -76k on 15m, -166k on 30m) – selling pressure is real. Longer-term there's some inflows (24h +243k, 3d +208k), so maybe some accumulation down low, but spot flows are all red across the board (1h -152k, 24h -53k). No real spot demand to push it up – that's bearish AF.
My take
$SHELL : Cautiously bearish. I'd look for a short setup on confirmation.
Entry: If it breaks and closes below 0.04241 (Support), that's my trigger. Or if it bounces up to 0.04743 (Resistance) and gets rejected with a wick or low-volume fakeout – even better risk-reward for shorts.
SL: 0.04400 if shorting the break. Matches recent swings.
Targets
$SHELL - Main one: 0.03981 (Support)
- Stretch: 0.03739 (next support)
Right now it's choppy, so patience is key – don't force it.
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