To be honest, once the clear evidence falls on the fee structure, the chart of $ONE has already shown its stance. This leg down from the highs isn’t one of those slow, dragging dead-cats bounces—it’s because as soon as the funding/fee rate changed, it couldn’t hold and went straight down. After a strong coin switches and changes the fee rate, it can at least stay sideways for a while. But it did the opposite, leaking right away. What does that mean? It means the market maker behind it also doesn’t have confidence in holding on at this level anymore.
I’ve watched several cycles—the volume and structure are pretty telling. During rebounds, volume shrinks; when it’s dropping, volume increases. That kind of volume-price coordination doesn’t look like accumulation. It looks more like searching for the opposing side to sell into—distribution.
As for the pressure area above, repeated tests failed to hold. Every time it tries to surge upward, it gets pushed back down. That means the selling pressure is truly sitting there. On the short side, the willingness to hold positions isn’t strong—many people are still waiting for a “confirmation” before acting. But markets often complete the main sell-off leg right through that hesitation.
Someone might ask: after dropping this much, can you still chase shorts? My view is that direction matters more than exact entry price. The structure hasn’t broken yet, and the lack of rebound strength is the best signal. If it really crashes lower, once that lower “vacuum” zone is breached, the speed will be very fast, and the risk-to-reward will be favorable.
On the other hand, if it suddenly increases volume and pulls back above the pressure level, then it would need a reassessment. Until then, I lean toward the idea that there’s still another leg of downside to finish. The key logic is twofold: first, after the fee change, it couldn’t hold—exposing the weakness of the controlling party; second, rebounds come on shrinking volume while the sell-off comes on expanding volume—volume-price relationships favor the bears. As long as these haven’t been overturned, my bearish outlook stays the same.
Gaze upon the vastness of mountains and seas, and observe the market’s subtle movements.
Walk with Uncle Xiong, and see the sky fill with gains and losses.
#ONE
Click below to trade 👇
I’ve watched several cycles—the volume and structure are pretty telling. During rebounds, volume shrinks; when it’s dropping, volume increases. That kind of volume-price coordination doesn’t look like accumulation. It looks more like searching for the opposing side to sell into—distribution.
As for the pressure area above, repeated tests failed to hold. Every time it tries to surge upward, it gets pushed back down. That means the selling pressure is truly sitting there. On the short side, the willingness to hold positions isn’t strong—many people are still waiting for a “confirmation” before acting. But markets often complete the main sell-off leg right through that hesitation.
Someone might ask: after dropping this much, can you still chase shorts? My view is that direction matters more than exact entry price. The structure hasn’t broken yet, and the lack of rebound strength is the best signal. If it really crashes lower, once that lower “vacuum” zone is breached, the speed will be very fast, and the risk-to-reward will be favorable.
On the other hand, if it suddenly increases volume and pulls back above the pressure level, then it would need a reassessment. Until then, I lean toward the idea that there’s still another leg of downside to finish. The key logic is twofold: first, after the fee change, it couldn’t hold—exposing the weakness of the controlling party; second, rebounds come on shrinking volume while the sell-off comes on expanding volume—volume-price relationships favor the bears. As long as these haven’t been overturned, my bearish outlook stays the same.
Gaze upon the vastness of mountains and seas, and observe the market’s subtle movements.
Walk with Uncle Xiong, and see the sky fill with gains and losses.
#ONE
Click below to trade 👇