$CYS has dropped 26%, falling all the way from 1.706 to 1.1307. When that bearish candle came out last night, I knew it was over. This coin’s nature is that once it starts dropping, it doesn’t even blink.
The 1.14 level looks like support, but I’ll tell you the truth: the real place to catch it is around 1.08. If you want to bet on a rebound now, don’t rush—wait until it first stabilizes above 1.15. Put the stop loss at 1.10; if it breaks, get out, no hesitation.
The trading volume is pretty big, 199M, but volume that large at a time like this isn’t necessarily a good thing—it could very well be the big players distributing while retail traders are catching the falling knife. $CYS still hasn’t shown signs that panic selling is exhausted in this round of decline. I’d rather miss it than buy in halfway down the mountain.
Manage your position size well; these days, staying alive matters more than making money.
The 1.14 level looks like support, but I’ll tell you the truth: the real place to catch it is around 1.08. If you want to bet on a rebound now, don’t rush—wait until it first stabilizes above 1.15. Put the stop loss at 1.10; if it breaks, get out, no hesitation.
The trading volume is pretty big, 199M, but volume that large at a time like this isn’t necessarily a good thing—it could very well be the big players distributing while retail traders are catching the falling knife. $CYS still hasn’t shown signs that panic selling is exhausted in this round of decline. I’d rather miss it than buy in halfway down the mountain.
Manage your position size well; these days, staying alive matters more than making money.