The position was fully closed at the $707.80 stop. Capital was fully preserved, with the loss strictly controlled.
The deposit protection system worked perfectly. No revenge trading and no “averaging down on falling knives.”
Price action mechanics (What happened?):
The market maker pushed the price below fundamental support at $708.00, setting a local low at $707.03 (with a wick down to $707.44 on the 15M chart).
Extreme oversold conditions: Historic capitulation is unfolding across both lower and higher timeframes—RSI(6) plunged to 10.71 on 3M, 12.68 on 15M, and 14.95 on 1H.
Shorts are strictly OFF-LIMITS: Shorting at the bottom with RSI at such extreme levels is suicide—and fuel for a potential squeeze.
Standard-BINANCE action plan:
We’re staying 100% IN CASH. No hasty moves.
We’re waiting for the structure to stabilize. Let the market blow off steam, wait for the decline to stop and for a solid accumulation base to form.
Trigger to resume trading:
We’ll return to longs only after a clear reclaim and the price holds back above the $710.00–$712.00 zone.
Or
Nearest levels to watch:
Support: 700–706 (current zone)
Next lower zone: 693–698
We’ll consider a new long only if a clear reaction appears (absorption / long lower wick + volume) specifically in the 700–706 zone or below.
Discipline is our greatest asset. Our capital is safe; we’re waiting for the structure to reverse! 🎯
💬 Who’s staying cool and sitting in cash with us? Let us know in the comments! 👇
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⚠️ This post is for informational purposes only and does not constitute investment advice.
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