$BAS : 569.8x Volume — Capitulation or Distribution?
$BAS just dropped 17.7% on an extreme 569.8x volume spike, and the chart is flashing more signs of distribution than a confirmed bottom. With 1H, daily, and weekly structure aligned bearish, I’m treating any bounce as a relief rally unless price proves otherwise.
Key downside levels: 0.022314, then 0.021557. If sellers remain in control, the next major demand zone sits around 0.01700–0.01580.
Short Entry Zone: 0.023424–0.02477
Wait for: Rejection wick, bearish engulfing, failed reclaim, or lower-timeframe bearish structure shift.
TP1: 0.022314
TP2: 0.021557
TP3: 0.01700–0.01580
Invalidation: 1H close above 0.025202
Do not chase the dump. The better setup is a bounce into broken structure followed by a confirmed rejection. If 0.025202 is reclaimed and held, the bearish thesis is invalidated and the bias turns bullish.
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