$龙虾 got wiped out in one fell swoop! Is it really safe to buy the dip now?
Guys, this “Lobster” has really left everyone stumped! The price plunged from around 0.0426 all the way to 0.01873, accompanied by a massive bearish candle with volume of around 260 million. It was brutal. It has now rebounded to around 0.02007 and seems to have stabilized for the moment—but does that mean the drop is over? Not necessarily.
The key thing to watch is that, after the plunge, trading volume has shrunk to around 2.4M, and market enthusiasm has clearly cooled. The price is still below the moving averages, which shows that the bulls haven’t yet regained control. A sideways move on lower volume could mean selling pressure is easing, or it could mean investors are holding back for now. You can’t conclude that the bottom is in just because the price has stopped falling.
Sis Luo’s view is simple: don’t rush to buy the dip just because the price has fallen so much. If you want to get involved, at least wait for a high-volume breakout above 0.021 and see whether it can hold there. If it approaches the previous low again, first look for signs that the decline is stopping—don’t rush to catch a falling knife.
No matter how red the lobster gets, you still need to check whether the fire under the pot has gone out. Until the trend recovers, a little less impulsiveness means one less chance of getting stuck! #中国三季度经济增速加快至4.5% #拉脱维亚议会通过加密货币税法
Guys, this “Lobster” has really left everyone stumped! The price plunged from around 0.0426 all the way to 0.01873, accompanied by a massive bearish candle with volume of around 260 million. It was brutal. It has now rebounded to around 0.02007 and seems to have stabilized for the moment—but does that mean the drop is over? Not necessarily.
The key thing to watch is that, after the plunge, trading volume has shrunk to around 2.4M, and market enthusiasm has clearly cooled. The price is still below the moving averages, which shows that the bulls haven’t yet regained control. A sideways move on lower volume could mean selling pressure is easing, or it could mean investors are holding back for now. You can’t conclude that the bottom is in just because the price has stopped falling.
Sis Luo’s view is simple: don’t rush to buy the dip just because the price has fallen so much. If you want to get involved, at least wait for a high-volume breakout above 0.021 and see whether it can hold there. If it approaches the previous low again, first look for signs that the decline is stopping—don’t rush to catch a falling knife.
No matter how red the lobster gets, you still need to check whether the fire under the pot has gone out. Until the trend recovers, a little less impulsiveness means one less chance of getting stuck! #中国三季度经济增速加快至4.5% #拉脱维亚议会通过加密货币税法