Look at this $ROBO trading run: -19%. It sounds like a breakdown, but this ROBO candlestick’s volume hit 2.16 billion yuan, with a trade value of 270 million USD piled into the 0.01–0.015 range. The funding rate is -0.0094%; the shorts didn’t really get much of an advantage. This suggests that the selloff down here is more like longs tripping over themselves than someone deliberately driving a short.
Let’s put the key numbers on the table: the intraday low is 0.01081, the current price is 0.01085—less than half a percent away from the low. Next, we’ll watch whether it can reclaim the 0.0120 level. If it can’t, then it may move toward 0.0090—this is the next support level projected proportionally based on the drop. For the rebound, first target 0.0138–0.0148. Only once it gets back above the 0.01479 prior high will it count as a reversal signal.
For a small-cap coin, 2.16 billion in volume isn’t small. A base formed by selling pressure of this magnitude is often more solid than a “bottom” formed by a slow grind lower on shrinking volume. The question is whether the bulls are willing to step in and take the other side at this volume level.
If the next 4-hour candle is still a decreasing-volume bearish candle, don’t rush to pick it up here.
#ROBO
Let’s put the key numbers on the table: the intraday low is 0.01081, the current price is 0.01085—less than half a percent away from the low. Next, we’ll watch whether it can reclaim the 0.0120 level. If it can’t, then it may move toward 0.0090—this is the next support level projected proportionally based on the drop. For the rebound, first target 0.0138–0.0148. Only once it gets back above the 0.01479 prior high will it count as a reversal signal.
For a small-cap coin, 2.16 billion in volume isn’t small. A base formed by selling pressure of this magnitude is often more solid than a “bottom” formed by a slow grind lower on shrinking volume. The question is whether the bulls are willing to step in and take the other side at this volume level.
If the next 4-hour candle is still a decreasing-volume bearish candle, don’t rush to pick it up here.
#ROBO