$EVAA That move was brutal.
It was still grinding around 0.49 on 10/25, then at 7 a.m. this morning the 1H candle shot straight up to 1.1663, up 137% in the window. The contract is still up 74% over 24 hours. I can't stand parabolic moves like this.
Look at the volume yourself. The candle at the peak did 25.9 million USDT, and the very next candle—the one that dumped—actually hit 37.3 million. A high-volume bearish candle engulfing the top. This candle's volume has shrunk to just over 2 million, while the price is still hanging in midair. The momentum has fizzled.
The 1H RSI pushed past 92—scorching hot. OI ballooned from $3.4 million to $10.4 million in two days, with all the leverage crammed up at the top. Funding is still positive, so longs are paying shorts.
The rising support has broken, and descending resistance is pressing down. I'm looking to open a small short around 0.90; I'll admit I'm wrong if it gets back above 1.1663. Don't get carried away chasing the dying candle.
#EVAA
Just my personal opinion, not investment advice
It was still grinding around 0.49 on 10/25, then at 7 a.m. this morning the 1H candle shot straight up to 1.1663, up 137% in the window. The contract is still up 74% over 24 hours. I can't stand parabolic moves like this.
Look at the volume yourself. The candle at the peak did 25.9 million USDT, and the very next candle—the one that dumped—actually hit 37.3 million. A high-volume bearish candle engulfing the top. This candle's volume has shrunk to just over 2 million, while the price is still hanging in midair. The momentum has fizzled.
The 1H RSI pushed past 92—scorching hot. OI ballooned from $3.4 million to $10.4 million in two days, with all the leverage crammed up at the top. Funding is still positive, so longs are paying shorts.
The rising support has broken, and descending resistance is pressing down. I'm looking to open a small short around 0.90; I'll admit I'm wrong if it gets back above 1.1663. Don't get carried away chasing the dying candle.
#EVAA
Just my personal opinion, not investment advice
