Someone just created big sell pressure on $AKE . What should we do now. As small traders we need to wait.
$AKE is at 0.005775 and still up 120% today. It ran from the 24h low of 0.002492 to the high of 0.006850 in a very short time. Then one big red 1H candle appeared at the top and dropped about 12% in one hour. It came after a long run of green candles and the 24h volume is 380M USDT.
This does not confirm a top yet. But it shows sellers are active at the highs. Late buyers are now trapped and a big seller can push price down fast.
The run up also printed huge green candles with almost no pullback. That means there is little real support under price. If 0.00525 breaks a slide toward 0.00450 and then 0.00330 is possible.
If buyers recover and close above 0.00657 the sellers lose and the pump can continue.
What small traders should do. Do not chase the green. Do not short blindly. Do not use high leverage on a coin that moves 12% in one hour. Wait for a 1H close below 0.00525 or a clean rejection from 0.00600 to 0.00657. Take a trade only after that.
For now AKE has strong sell pressure at the highs and the next 1H closes will decide. Patience is also a position.
$AKE is at 0.005775 and still up 120% today. It ran from the 24h low of 0.002492 to the high of 0.006850 in a very short time. Then one big red 1H candle appeared at the top and dropped about 12% in one hour. It came after a long run of green candles and the 24h volume is 380M USDT.
This does not confirm a top yet. But it shows sellers are active at the highs. Late buyers are now trapped and a big seller can push price down fast.
The run up also printed huge green candles with almost no pullback. That means there is little real support under price. If 0.00525 breaks a slide toward 0.00450 and then 0.00330 is possible.
If buyers recover and close above 0.00657 the sellers lose and the pump can continue.
What small traders should do. Do not chase the green. Do not short blindly. Do not use high leverage on a coin that moves 12% in one hour. Wait for a 1H close below 0.00525 or a clean rejection from 0.00600 to 0.00657. Take a trade only after that.
For now AKE has strong sell pressure at the highs and the next 1H closes will decide. Patience is also a position.
