š“[Bearish Ā· Short Sell]
I just saw in a few groups that people are already shouting that $ONE is there to dumpāsaying that it will drop 6% so donāt buy yet, and wait. I took a look at the order book, said nothing, and first cancelled the buy orders.
Basically, after a long bearish candle, the easiest illusion to fall for is ācheap.ā At 0.0023714, the price looks much lower than yesterday, and the volume is also pretty heavy. Many people think someone is secretly picking up. But I think itās more like distribution. If you really want to accumulate, you usually smash it down on shrinking volume first, then quickly pull up a long lower wick to make sure the panic sellers get eatenārather than having three moving averages neatly lined up and then letting it drift downward in a straight line.
An EMA ribbon with the shorts stacked isnāt magic. In plain words: the average cost of the people who bought earlier is all sitting up there, waiting to get out of their positions. Every rebound brings fresh selling pressure.
So my plan is simpleāI wonāt chase shorts, but I also wonāt go long. The current price is too close to the support at 0.002345. Shorting here is basically handing your stop-loss over to someone elseās blade and letting it rub against it. Iām waiting for a bounceāwhen price swings into the 0.002390 to 0.002405 area (around the resistance at 0.0024061). Thatās the price thatās worth me getting on board.
My defense level is crystal clear: 0.002418. As soon as price stands above it and holds, it means the short-side structure has been broken. Iāll admit Iām wrong and leaveāno holding, no stubbornness, and absolutely no making excuses for myself. For the first target down, Iām looking at 0.002350. When it hits, Iāll cut half to lock in profit, and keep the rest to see if it can follow through and touch 0.002320.
All in all, the risk-reward ratio can be 2x or more. Thatās the kind of setup worth taking seriously.
As for the support at 0.002345, personally I lean toward it not holding. The first touch under a bearish setup is often just a cushion, not a floor. The real bottom is usually grinded outānot stabbed out with a single needle.
Of course, maybe Iām just the one who got shaken out by a fake breakdown. What do you think? Are you planning to squat and catch there, or like me, wait for it to break down before acting? Drop your thoughts in the comments.
#åøå®å¹æåŗ #$ONE #č”ę åę #åēŗ¦å®ę #Short Sell
I just saw in a few groups that people are already shouting that $ONE is there to dumpāsaying that it will drop 6% so donāt buy yet, and wait. I took a look at the order book, said nothing, and first cancelled the buy orders.
Basically, after a long bearish candle, the easiest illusion to fall for is ācheap.ā At 0.0023714, the price looks much lower than yesterday, and the volume is also pretty heavy. Many people think someone is secretly picking up. But I think itās more like distribution. If you really want to accumulate, you usually smash it down on shrinking volume first, then quickly pull up a long lower wick to make sure the panic sellers get eatenārather than having three moving averages neatly lined up and then letting it drift downward in a straight line.
An EMA ribbon with the shorts stacked isnāt magic. In plain words: the average cost of the people who bought earlier is all sitting up there, waiting to get out of their positions. Every rebound brings fresh selling pressure.
So my plan is simpleāI wonāt chase shorts, but I also wonāt go long. The current price is too close to the support at 0.002345. Shorting here is basically handing your stop-loss over to someone elseās blade and letting it rub against it. Iām waiting for a bounceāwhen price swings into the 0.002390 to 0.002405 area (around the resistance at 0.0024061). Thatās the price thatās worth me getting on board.
My defense level is crystal clear: 0.002418. As soon as price stands above it and holds, it means the short-side structure has been broken. Iāll admit Iām wrong and leaveāno holding, no stubbornness, and absolutely no making excuses for myself. For the first target down, Iām looking at 0.002350. When it hits, Iāll cut half to lock in profit, and keep the rest to see if it can follow through and touch 0.002320.
All in all, the risk-reward ratio can be 2x or more. Thatās the kind of setup worth taking seriously.
As for the support at 0.002345, personally I lean toward it not holding. The first touch under a bearish setup is often just a cushion, not a floor. The real bottom is usually grinded outānot stabbed out with a single needle.
Of course, maybe Iām just the one who got shaken out by a fake breakdown. What do you think? Are you planning to squat and catch there, or like me, wait for it to break down before acting? Drop your thoughts in the comments.
#åøå®å¹æåŗ #$ONE #č”ę åę #åēŗ¦å®ę #Short Sell