ace 0.217u
Yesterday we said that only when it breaks above 0.2026 counts as an upside breakout. This morning at around 0.25 it pushed through. Now it’s back to 0.2169—dropping one third from the top.
After the batch of unlocks on the 18th was completed, the price didn’t collapse. The next day it surged straight up—this is what “bad news fully absorbed” looks like. Once the stuff that was held back for a few days is gone, it’s the shorts that can’t hold first.
Trading volume keeps expanding: almost two hundred million in value per day, with market cap still only a little over 23 million. Turnover is 8.5x. This is no longer a normal trading volume level.
However, the problem that it can’t hold when it spikes high remains. On the 14th it fell from 0.3736, on the 17th it fell from 0.2026, and today it’s dropped again from 0.25. The real top of this move is still up at 0.3736—there’s still a long way to go.
Now 0.2026 has flipped into the support below. If it holds, we can keep looking higher. If it drops back, it’s a false breakout—then it retreats into the trading range. Chasing this kind of turnover at this position is basically no different from gambling. #ace $ACE
Yesterday we said that only when it breaks above 0.2026 counts as an upside breakout. This morning at around 0.25 it pushed through. Now it’s back to 0.2169—dropping one third from the top.
After the batch of unlocks on the 18th was completed, the price didn’t collapse. The next day it surged straight up—this is what “bad news fully absorbed” looks like. Once the stuff that was held back for a few days is gone, it’s the shorts that can’t hold first.
Trading volume keeps expanding: almost two hundred million in value per day, with market cap still only a little over 23 million. Turnover is 8.5x. This is no longer a normal trading volume level.
However, the problem that it can’t hold when it spikes high remains. On the 14th it fell from 0.3736, on the 17th it fell from 0.2026, and today it’s dropped again from 0.25. The real top of this move is still up at 0.3736—there’s still a long way to go.
Now 0.2026 has flipped into the support below. If it holds, we can keep looking higher. If it drops back, it’s a false breakout—then it retreats into the trading range. Chasing this kind of turnover at this position is basically no different from gambling. #ace $ACE