$UAI broke above its previous high, then halved within an hour; now back to 0.114
The 01:00 1h candle closed at 0.235, above the previous high of 0.223, with 30.42 million U in volume. Then at 02:00, it plunged from 0.25 to 0.111. The current price is 0.114, still up 13% over 24h.
My take: After the second breakout, it rapidly pulled back. Volume increased in three successive steps over the past 12h, but open interest fell 11% in 1h and funding is skewed long. Crowded longs are vulnerable to a flush. Once the breakout level fails, don't mistake the pullback for a second chance to get in.
It only counts as a genuine breakout if it reclaims and holds 0.223. If it breaks below the 0.111 low, I remain bearish.
Do you think this move in $UAI is a shakeout or a top? Share your thoughts in the comments.
#UAI #山寨币 #Futures
This is not investment advice
The 01:00 1h candle closed at 0.235, above the previous high of 0.223, with 30.42 million U in volume. Then at 02:00, it plunged from 0.25 to 0.111. The current price is 0.114, still up 13% over 24h.
My take: After the second breakout, it rapidly pulled back. Volume increased in three successive steps over the past 12h, but open interest fell 11% in 1h and funding is skewed long. Crowded longs are vulnerable to a flush. Once the breakout level fails, don't mistake the pullback for a second chance to get in.
It only counts as a genuine breakout if it reclaims and holds 0.223. If it breaks below the 0.111 low, I remain bearish.
Do you think this move in $UAI is a shakeout or a top? Share your thoughts in the comments.
#UAI #山寨币 #Futures
This is not investment advice
