šØ BULLA plunged 11.1% in 24 hours! The current price is around $0.07763. After breaking below its previous low, itās still struggling, with bearish sentiment firmly weighing on the market.
But hereās whatās interesting: it rebounded 3.6% in 5 minutes, volume surged to 27.3 times its previous level, and OI actually rose 4.5%. Retail tradersā bearish sentiment over the past 24 hours reached 10.5 times the bullish sentiment. The rebound is sharp, but the market is showing no real signs of turning bullish.
š What does this mean? Some traders are chasing the bounce, while others are continuing to add to their positions against it. The biggest risk isnāt getting the direction wrongāitās chasing the rebound near its peak and becoming the next one caught in a cascade of stop-losses.
šÆ Key levels:
Resistance: $0.07830 / $0.07847
Support: $0.07670
Only a move back above $0.07830 would reclaim the previous low; a break below $0.07670 would confirm continued weakness.
My take: Short-term outlook is bearish, and I wouldnāt chase the rebound blindly. A high-volume move above and hold over $0.07847 could turn sentiment around; if the rebound fails and price falls below $0.07670, watch out for cascading stop-losses on long positions.
Do you think BULLA will reclaim $0.07847 next, or break below $0.07670? š
#BULLA #CryptoTrading
But hereās whatās interesting: it rebounded 3.6% in 5 minutes, volume surged to 27.3 times its previous level, and OI actually rose 4.5%. Retail tradersā bearish sentiment over the past 24 hours reached 10.5 times the bullish sentiment. The rebound is sharp, but the market is showing no real signs of turning bullish.
š What does this mean? Some traders are chasing the bounce, while others are continuing to add to their positions against it. The biggest risk isnāt getting the direction wrongāitās chasing the rebound near its peak and becoming the next one caught in a cascade of stop-losses.
šÆ Key levels:
Resistance: $0.07830 / $0.07847
Support: $0.07670
Only a move back above $0.07830 would reclaim the previous low; a break below $0.07670 would confirm continued weakness.
My take: Short-term outlook is bearish, and I wouldnāt chase the rebound blindly. A high-volume move above and hold over $0.07847 could turn sentiment around; if the rebound fails and price falls below $0.07670, watch out for cascading stop-losses on long positions.
Do you think BULLA will reclaim $0.07847 next, or break below $0.07670? š
#BULLA #CryptoTrading