$S Down 20% in a day, with support at 0.05 and a rebound to 0.06 both in focus
Current price: $0.0555 (24h: -20.76%)
One bearish candle in S wiped out part of the gains from the past few days. Now the whole market has its eyes on the two-day low at 0.05.
S itself has no major news directly behind the move; the market is selling off on its own.
After a 39% gain over seven days, the short-term risk-reward has worsened, and profit-takers are rushing for the exits.
Funding rates are slightly negative, so shorts aren't paying much of a premium. That suggests this sell-off isn't being driven by futures bears so much as spot selling and leveraged longs getting flushed out.
Open interest is still substantial, with serious money betting against itself around 0.05.
In the background, K33 is arguing that Strategy's preferred-stock financing isn't worthwhile, and that common stock is the best way to gain exposure to Bitcoin;
Even if the Supreme Court agrees to hear SBF's case, a decision wouldn't come before 2027. Those are distant concerns and have nothing to do with S's drop today.
If 0.05 holds, this is still just a pullback. The 4-hour bullish alignment remains intact, with an initial rebound target of 0.06;
If price breaks above 0.06 on strong volume, those who sold earlier will come chasing back in.
On the other hand, if 0.05 breaks, forget 0.06—the two moving averages on the 4-hour chart will need to be reassessed, and the bulls will lose all conviction.
I'm leaning bullish and am willing to wait for support around 0.05. If 0.05 breaks, I'll flip straight to bearish.
Most likely scenario: price first drops to 0.05 to shake out some holders, then climbs back above 0.06—that's when this move will truly be over.
#加密货币 #币圈日常
Current price: $0.0555 (24h: -20.76%)
One bearish candle in S wiped out part of the gains from the past few days. Now the whole market has its eyes on the two-day low at 0.05.
S itself has no major news directly behind the move; the market is selling off on its own.
After a 39% gain over seven days, the short-term risk-reward has worsened, and profit-takers are rushing for the exits.
Funding rates are slightly negative, so shorts aren't paying much of a premium. That suggests this sell-off isn't being driven by futures bears so much as spot selling and leveraged longs getting flushed out.
Open interest is still substantial, with serious money betting against itself around 0.05.
In the background, K33 is arguing that Strategy's preferred-stock financing isn't worthwhile, and that common stock is the best way to gain exposure to Bitcoin;
Even if the Supreme Court agrees to hear SBF's case, a decision wouldn't come before 2027. Those are distant concerns and have nothing to do with S's drop today.
If 0.05 holds, this is still just a pullback. The 4-hour bullish alignment remains intact, with an initial rebound target of 0.06;
If price breaks above 0.06 on strong volume, those who sold earlier will come chasing back in.
On the other hand, if 0.05 breaks, forget 0.06—the two moving averages on the 4-hour chart will need to be reassessed, and the bulls will lose all conviction.
I'm leaning bullish and am willing to wait for support around 0.05. If 0.05 breaks, I'll flip straight to bearish.
Most likely scenario: price first drops to 0.05 to shake out some holders, then climbs back above 0.06—that's when this move will truly be over.
#加密货币 #币圈日常