Looking at the chart $HOLO and feeling depressed, the sell-off is right in the literal sense. Just after forming a short-term peak at 0.0775, it slid downhill nonstop, breaking through the EMA25 as well. Looking at the derivatives, the OI has dropped by nearly 19.3% combined with the Long/Short ratio of 0.84—it’s clear the Long side is being forced to liquidate in a disastrous way. Right now, the price is hovering around the MA25 on the weekly timeframe at about 0.0661; this is the decisive area to see whether there will be a rebound or whether it will keep going down.
I slightly lean toward the Short side, but honestly I’m extremely cautious 🧊. I’ll patiently wait for the 0.0675 - 0.0685 zone—if there’s a reaction, I’ll enter with a small position, taking partial profit around 0.064 then 0.062. However, if the candle closes above 0.0705, then I’ll be wrong, and I’ll quickly turn around.
The biggest risk is that the volume doesn’t confirm the down direction—if “big hands” jump in and push the price, it could sweep both sides. If anyone out there is holding this bag, give me a shout so I can see how things are going 👀.
#Write2Earn #Altcoin #RiskManagement
(This post is for sharing only, not investment advice)
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I slightly lean toward the Short side, but honestly I’m extremely cautious 🧊. I’ll patiently wait for the 0.0675 - 0.0685 zone—if there’s a reaction, I’ll enter with a small position, taking partial profit around 0.064 then 0.062. However, if the candle closes above 0.0705, then I’ll be wrong, and I’ll quickly turn around.
The biggest risk is that the volume doesn’t confirm the down direction—if “big hands” jump in and push the price, it could sweep both sides. If anyone out there is holding this bag, give me a shout so I can see how things are going 👀.
#Write2Earn #Altcoin #RiskManagement
(This post is for sharing only, not investment advice)
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