$BAS This wave dropped straight from 0.0334 to 0.023044. The single-day decline is nearly 18%, and the wick-insertion range exceeds 28%.
This price action isn’t normal. The 517M trading volume is piled on top of only 14.9M in trading value—the average price has been smashed down to around 0.0288. That suggests the latter part is panic selling coming out, not the main force distributing via order-matching.
After the bottom wick was pulled down to 0.023044, it rebounded quickly. The current price is 0.0237, and the lower wick length is almost three times the body.
A textbook “panic washout” pattern. But whether it’s really a washout rather than a true breakdown depends on where the next two candlesticks close. If it can’t reclaim above 0.026, then it’s true distribution.
My old-weed DNA tells me—this kind of volume-price divergence (big drop, but the average price can still hold around 0.0288) isn’t something retail traders can pull off.
Set a stop-loss at 0.022. The first target is 0.028. We’ll talk about what comes next only if it can hold.
Do you think this is a washout or distribution? Comment your direction. Come back in a week to verify 👀
#BAS
This price action isn’t normal. The 517M trading volume is piled on top of only 14.9M in trading value—the average price has been smashed down to around 0.0288. That suggests the latter part is panic selling coming out, not the main force distributing via order-matching.
After the bottom wick was pulled down to 0.023044, it rebounded quickly. The current price is 0.0237, and the lower wick length is almost three times the body.
A textbook “panic washout” pattern. But whether it’s really a washout rather than a true breakdown depends on where the next two candlesticks close. If it can’t reclaim above 0.026, then it’s true distribution.
My old-weed DNA tells me—this kind of volume-price divergence (big drop, but the average price can still hold around 0.0288) isn’t something retail traders can pull off.
Set a stop-loss at 0.022. The first target is 0.028. We’ll talk about what comes next only if it can hold.
Do you think this is a washout or distribution? Comment your direction. Come back in a week to verify 👀
#BAS