API3 just surged to 0.30, and some people are shouting “breakout,” while others are saying “the rebound is over.” With this kind of disagreement, don’t just focus on that one highest price: intraday pushing up and closing to hold are two different things.
That completed 1-hour K-line on Binance Spot, Beijing time 21:00–22:00, has a high of 0.3000 and closed at 0.2953. The trading volume is about 1.38 million coins, which is 3.7 times the roughly 370,000 coins in the previous hour. It closed above the previous hour’s high of 0.2919, while Bitcoin during the same period was nearly flat. API3 is stronger than the overall market, but the long upper wick shows that there are still sellers near 0.30. Bigger volume doesn’t mean there’s no resistance overhead.
For the next 4 hours, the bias is temporarily bullish. The reason is that after the volume spike, the close still remains above the previous hour’s high. If, by before 02:00 Beijing time the next day, any completed 1-hour K-line closes back below 0.2919, then this short-term judgment is invalid. Whether to chase that spike first depends on whether it can hold at the close—this is more useful than watching intraday wick spikes.
That completed 1-hour K-line on Binance Spot, Beijing time 21:00–22:00, has a high of 0.3000 and closed at 0.2953. The trading volume is about 1.38 million coins, which is 3.7 times the roughly 370,000 coins in the previous hour. It closed above the previous hour’s high of 0.2919, while Bitcoin during the same period was nearly flat. API3 is stronger than the overall market, but the long upper wick shows that there are still sellers near 0.30. Bigger volume doesn’t mean there’s no resistance overhead.
For the next 4 hours, the bias is temporarily bullish. The reason is that after the volume spike, the close still remains above the previous hour’s high. If, by before 02:00 Beijing time the next day, any completed 1-hour K-line closes back below 0.2919, then this short-term judgment is invalid. Whether to chase that spike first depends on whether it can hold at the close—this is more useful than watching intraday wick spikes.