$MRVL 217, yesterday they said it would bounce higher after bouncing, but the result was that it came back after touching 225, just like before. Honestly, I really don’t understand—every time it bounces up, there are people waiting to sell out.
In 4 hours it dropped from 225 to 214; the bullish candle finished and the bearish one ate it. There were 60% more active sell orders than buy orders, and the crowd chasing was 50% fewer—there was no one to take over. Volume dipped when trades happened, and during the pull-up there were still people following along; once it paused, nobody was there.
The order book buy side is still thin: the bid is only two-thirds of the ask. Once it gets smashed, it breaks through. At this level, the bids haven’t built up, so price is extremely sensitive to sell pressure.
The whales still hold a heavy position, but their exposure is already being reduced. When it was rising, they didn’t add; now that it’s falling, they definitely won’t follow. It bounced from 178 to 225—after a pull of more than 20 points, everyone who should have entered has entered. So who’s going to take it from here?
Chasing longs at this level doesn’t have great value—better to wait and see. If it pulls back and holds steady, then judge. Until the market gives a clear direction, there’s no need to act in a hurry.
#mrvl $MRVL
In 4 hours it dropped from 225 to 214; the bullish candle finished and the bearish one ate it. There were 60% more active sell orders than buy orders, and the crowd chasing was 50% fewer—there was no one to take over. Volume dipped when trades happened, and during the pull-up there were still people following along; once it paused, nobody was there.
The order book buy side is still thin: the bid is only two-thirds of the ask. Once it gets smashed, it breaks through. At this level, the bids haven’t built up, so price is extremely sensitive to sell pressure.
The whales still hold a heavy position, but their exposure is already being reduced. When it was rising, they didn’t add; now that it’s falling, they definitely won’t follow. It bounced from 178 to 225—after a pull of more than 20 points, everyone who should have entered has entered. So who’s going to take it from here?
Chasing longs at this level doesn’t have great value—better to wait and see. If it pulls back and holds steady, then judge. Until the market gives a clear direction, there’s no need to act in a hurry.
#mrvl $MRVL