🚨 PTB is crashing! Down about 30% in 24 hours, with a market cap of just $1.23 million. Binance will also delist the PTBUSDT perpetual contract on October 23!
But here’s what’s really strange: it fell another 7.6% in 5 minutes, yet at one point rose 20.3% in an hour. Trading volume surged 9.0x, while open interest fell 8.2%. Retail bearish sentiment hit 6.2x, and discussions were clearly bearish.
📊 What does this mean? Some are rushing to buy the bounce, while others are scrambling to get out. The biggest risk isn’t getting the direction wrong—it’s chasing the bounce near its high and ending up holding the bag during the delisting sell-off.
🎯 Key levels:
Watch: VWAP at 0.000544
Risk: Previous low at 0.00049
Whether price can reclaim VWAP on rising volume will show if the bounce can continue.
My take: The trend is bearish; a bounce doesn’t mean a reversal. If price can’t reclaim 0.000544, be alert for another drop. If it breaks below 0.00049, long positions may face further capitulation.
Do you think PTB will reclaim 0.000544 first, or break below 0.00049? 👇
#BinanceDelisting #PTB
But here’s what’s really strange: it fell another 7.6% in 5 minutes, yet at one point rose 20.3% in an hour. Trading volume surged 9.0x, while open interest fell 8.2%. Retail bearish sentiment hit 6.2x, and discussions were clearly bearish.
📊 What does this mean? Some are rushing to buy the bounce, while others are scrambling to get out. The biggest risk isn’t getting the direction wrong—it’s chasing the bounce near its high and ending up holding the bag during the delisting sell-off.
🎯 Key levels:
Watch: VWAP at 0.000544
Risk: Previous low at 0.00049
Whether price can reclaim VWAP on rising volume will show if the bounce can continue.
My take: The trend is bearish; a bounce doesn’t mean a reversal. If price can’t reclaim 0.000544, be alert for another drop. If it breaks below 0.00049, long positions may face further capitulation.
Do you think PTB will reclaim 0.000544 first, or break below 0.00049? 👇
#BinanceDelisting #PTB