SPCX lost its weightlessness—four hours of kinetic energy cleared to zero, the daily line flipped back on the same day, and the price couldn’t climb back above either of the double moving averages even for fifteen minutes. The bulls can’t even call out “buy” on a continuous basis. A 20-level deep order book was flattened all the way to 1.003; even sticking to the 24h low, there wasn’t enough bid pressure to stack up consecutive support. The funding rate stays negative, and the active buy orders have slashed by 20% over seven hours—this orderbook has only one exit left: down. The 24h high-low range can’t break even 3%. A tight range is just forcing the dumpers to hold back; the quicker the “bottom-picking” hands reach, the quicker they get chopped.
