The $BR 22 candle wasn’t a breakout—it was the slaughterhouse moving locations to keep the killing going.
Gate perpetuals are currently around 0.478, still up 23% over 24 hours. The daily high is 0.493, the low is 0.291, and volume is about 4.14 million USDT. The funding rate is around -0.051% (4h), meaning shorts are paying longs. BTC is around 81,630 over the same period (-1%). This coin is putting on a show all by itself.
The chart is filthy: through most of the day until 21:00, it chopped around 0.33–0.35, with hourly volume ranging from tens of thousands to 200,000 USDT. Then at 22:00, volume suddenly hit around 2.2 million USDT—the candle opened at 0.345, peaked at 0.459, plunged to the daily low of 0.291, and closed at 0.366. Both longs and shorts got shaken out in the same candle. At 23:00, another roughly 1.08 million USDT came in, driving it from 0.366 to the daily high of 0.493. It’s now hovering around 0.478. It’s nearly up 50% in half a day, and you still want to catch this falling knife?
My game plan has three points. Take it or leave it:
1. Don’t chase a breakout around 0.47–0.49. There’s fresh supply overhead, and chasing here means buying into the 22:00 candle.
2. If you want to short, don’t chase it down. Wait for a low-volume bounce to 0.48–0.49, then enter small. Put your stop above 0.50, in case it reclaims that level with volume.
3. If you really want to go long, at least wait for a high-volume pullback to 0.40–0.42 that holds. Otherwise, it’s just the wreckage left by a spike.
A quick check on my midday $STBL call: I said not to buy at 0.025 and to look for a light short on a bounce to 0.028–0.030. It’s around 0.025 now and still chopping—so far, not buying has been the right call, but the bounce-to-short entry hasn’t appeared yet.
These are only my personal short-term views, not financial advice.
Gate perpetuals are currently around 0.478, still up 23% over 24 hours. The daily high is 0.493, the low is 0.291, and volume is about 4.14 million USDT. The funding rate is around -0.051% (4h), meaning shorts are paying longs. BTC is around 81,630 over the same period (-1%). This coin is putting on a show all by itself.
The chart is filthy: through most of the day until 21:00, it chopped around 0.33–0.35, with hourly volume ranging from tens of thousands to 200,000 USDT. Then at 22:00, volume suddenly hit around 2.2 million USDT—the candle opened at 0.345, peaked at 0.459, plunged to the daily low of 0.291, and closed at 0.366. Both longs and shorts got shaken out in the same candle. At 23:00, another roughly 1.08 million USDT came in, driving it from 0.366 to the daily high of 0.493. It’s now hovering around 0.478. It’s nearly up 50% in half a day, and you still want to catch this falling knife?
My game plan has three points. Take it or leave it:
1. Don’t chase a breakout around 0.47–0.49. There’s fresh supply overhead, and chasing here means buying into the 22:00 candle.
2. If you want to short, don’t chase it down. Wait for a low-volume bounce to 0.48–0.49, then enter small. Put your stop above 0.50, in case it reclaims that level with volume.
3. If you really want to go long, at least wait for a high-volume pullback to 0.40–0.42 that holds. Otherwise, it’s just the wreckage left by a spike.
A quick check on my midday $STBL call: I said not to buy at 0.025 and to look for a light short on a bounce to 0.028–0.030. It’s around 0.025 now and still chopping—so far, not buying has been the right call, but the bounce-to-short entry hasn’t appeared yet.
These are only my personal short-term views, not financial advice.