$SAGA single-day -22%, turnover 1.93 billion, but the price was smashed from the recent high of 0.0436 all the way down to the current 0.0336— the amplitude is enough to swallow a big bearish candle.
On the K-line chart, that spike at 0.0436 is very likely a bull trap. Immediately after, there was a heavy sell-off on increased volume, with all the volume concentrated inside the bearish candle. The low at 0.0273 is a real panic low formed during the day. On the 4-hour timeframe, there are currently no signs of stabilization. The key is whether it can hold the 0.032 area—if it breaks, it will head straight for the low at 0.027.
Funding rate +0.005%, both longs and shorts are paying. It’s not one-sided; instead, the sell-off momentum isn’t that strong. Set your stop-loss at 0.0273, and if it moves upward first, look to fill the gap at 0.036; then try to reach 0.040 before thinking about the next step.
Open your trading software and calculate for yourself: from 0.0273 to 0.040, has the risk-reward ratio passed 2?
#SAGA
On the K-line chart, that spike at 0.0436 is very likely a bull trap. Immediately after, there was a heavy sell-off on increased volume, with all the volume concentrated inside the bearish candle. The low at 0.0273 is a real panic low formed during the day. On the 4-hour timeframe, there are currently no signs of stabilization. The key is whether it can hold the 0.032 area—if it breaks, it will head straight for the low at 0.027.
Funding rate +0.005%, both longs and shorts are paying. It’s not one-sided; instead, the sell-off momentum isn’t that strong. Set your stop-loss at 0.0273, and if it moves upward first, look to fill the gap at 0.036; then try to reach 0.040 before thinking about the next step.
Open your trading software and calculate for yourself: from 0.0273 to 0.040, has the risk-reward ratio passed 2?
#SAGA