A trading volume of 4.5 billion only brought back $10.37 million, so the true quality of this $1000CAT green candle has to be questioned — with the price where it is, buying a single order doesn’t cost much at all, and no matter how big the volume looks, it’s just inflated on the surface.
It rallied 30% today, but the low is still stuck at 0.001906 and hasn’t been filled, which means there are resting buy orders defending below; this isn’t the kind of shape that can be formed by a natural rebound. The funding rate is normal, but the upper wick at 0.002585 has already burned through today’s bullish ammo.
Looking down, 0.001906 is the line of life and death; if it breaks, this round goes straight to zero. Looking up, first see whether 0.002585 can hold, and after that we can talk about 0.003000. The stop loss is placed below 0.001800, betting on that unfinished gap.
This coin will either surge through in one go, or it will grind in this range until no one is left to take the other side.
#1000CAT
It rallied 30% today, but the low is still stuck at 0.001906 and hasn’t been filled, which means there are resting buy orders defending below; this isn’t the kind of shape that can be formed by a natural rebound. The funding rate is normal, but the upper wick at 0.002585 has already burned through today’s bullish ammo.
Looking down, 0.001906 is the line of life and death; if it breaks, this round goes straight to zero. Looking up, first see whether 0.002585 can hold, and after that we can talk about 0.003000. The stop loss is placed below 0.001800, betting on that unfinished gap.
This coin will either surge through in one go, or it will grind in this range until no one is left to take the other side.
#1000CAT