$IDOL fell 22% in one day. That big +16% bullish candle at 11 a.m. today—thought it was a reversal? Within two hours, more than half the gains had been wiped out.
It plunged from 0.0246 at 1 p.m. yesterday to a low of 0.0163 in the early hours today, then surged to 0.0209 in a sharp rally at 11 a.m. But it ran into selling pressure all the way up, and now it's back around 0.0188.
The bearish case is simple:
1️⃣ Open interest in futures fell from 23.15 million U to 14.15 million. It only recovered to 15.8 million during the bounce—money is pulling out, not rushing in to buy.
2️⃣ Each high is lower than the last: 0.0246 → 0.0207 → 0.0209. Every rebound has been pushed back down around 0.020.
3️⃣ The long/short account ratio is still 1.27. Longs haven't been fully shaken out, so there's still selling pressure below.
My plan: bearish in the short term. A rebound to 0.0195–0.0200 is a short entry; first target is the previous low at 0.0165. If it holds above 0.0209, I'll admit I'm wrong.
Where's IDOL headed next: 0.0165 or 0.021? Which side are you on?
#IDOL #山寨币 #合约 #MarketAnalysis
It plunged from 0.0246 at 1 p.m. yesterday to a low of 0.0163 in the early hours today, then surged to 0.0209 in a sharp rally at 11 a.m. But it ran into selling pressure all the way up, and now it's back around 0.0188.
The bearish case is simple:
1️⃣ Open interest in futures fell from 23.15 million U to 14.15 million. It only recovered to 15.8 million during the bounce—money is pulling out, not rushing in to buy.
2️⃣ Each high is lower than the last: 0.0246 → 0.0207 → 0.0209. Every rebound has been pushed back down around 0.020.
3️⃣ The long/short account ratio is still 1.27. Longs haven't been fully shaken out, so there's still selling pressure below.
My plan: bearish in the short term. A rebound to 0.0195–0.0200 is a short entry; first target is the previous low at 0.0165. If it holds above 0.0209, I'll admit I'm wrong.
Where's IDOL headed next: 0.0165 or 0.021? Which side are you on?
#IDOL #山寨币 #合约 #MarketAnalysis
