NBIS is currently around 228u. The sell-off from about 274 has dropped by roughly 17%. But at this point, it feels like the downtrend is starting to tighten up.
First, look at the structure: On the daily chart, there’s a single large bearish candle that plunged from 249 down to around 214—that one was truly frightening. But the following candles on the 4-hour chart are clearly lighter/less intense; the latest one moved less than 0.6%, and the price has been grinding just above the low around 214. On the 15-minute chart, both moving averages are sticking close together, so in the short term it seems to have stabilized.
There’s also a signal in the order book worth mentioning: deep-buying in the spot market is nearly twice as strong as deep-selling—there are buyers underneath supporting it. The big players haven’t really run either; the net long position ratio is still around 70%. Over the past 7 hours, they’ve even been adding slightly. In this round of dumping, the big players’ base positions have basically not moved.
But if you want to say it’s a reversal, it’s still missing that last bit of confirmation. Spot large orders’ net inflow is basically zero. Contract active trading over the last 7 hours has shrunk by more than 20%. The market is contracting and waiting for direction—there’s no fresh money entering. Positions have been slightly increased by about 2%, yet the price hasn’t given any positive feedback. When money goes in but doesn’t produce results, it feels a bit like what happened in the previous drops around 264 and 274.
So I’m not in a rush to take a stance from this level. Either wait for it to reclaim the area on increased volume, or wait for it to pull back to 214 and then see who steps in for the next push. Chasing longs here doesn’t offer great value right now—best to observe and see how the capital decides next.
#nbis $NBIS
First, look at the structure: On the daily chart, there’s a single large bearish candle that plunged from 249 down to around 214—that one was truly frightening. But the following candles on the 4-hour chart are clearly lighter/less intense; the latest one moved less than 0.6%, and the price has been grinding just above the low around 214. On the 15-minute chart, both moving averages are sticking close together, so in the short term it seems to have stabilized.
There’s also a signal in the order book worth mentioning: deep-buying in the spot market is nearly twice as strong as deep-selling—there are buyers underneath supporting it. The big players haven’t really run either; the net long position ratio is still around 70%. Over the past 7 hours, they’ve even been adding slightly. In this round of dumping, the big players’ base positions have basically not moved.
But if you want to say it’s a reversal, it’s still missing that last bit of confirmation. Spot large orders’ net inflow is basically zero. Contract active trading over the last 7 hours has shrunk by more than 20%. The market is contracting and waiting for direction—there’s no fresh money entering. Positions have been slightly increased by about 2%, yet the price hasn’t given any positive feedback. When money goes in but doesn’t produce results, it feels a bit like what happened in the previous drops around 264 and 274.
So I’m not in a rush to take a stance from this level. Either wait for it to reclaim the area on increased volume, or wait for it to pull back to 214 and then see who steps in for the next push. Chasing longs here doesn’t offer great value right now—best to observe and see how the capital decides next.
#nbis $NBIS