$ID 🔥
$ID hit with 8.7x sell volume spike, is this over or just starting?
- With a rejection from the top, huge volume, and a sharp -3.5% drop, this is classic distribution and signals more downside likely in the short term. I expect the price to drop further, first testing the 0.0377-0.0379 zone, and if selling continues, likely probing the 0.0366-0.0365 swing low region.
- The best trade setup here: Watch for a weak bounce back to 0.0392-0.0398, then enter a short if price gets rejected with a bearish setup (like a pin bar, bearish engulfing, or clear lower high on 5m).
- Take profits at 0.0377-0.0379, then at 0.0366-0.0365 if momentum persists.
- If price quickly reclaims 0.0398 and consolidates above, my bias flips bullish—but that would require a clear break and hold above that level with strong bullish candles and volume.
- Remember: stop-loss should be placed above the 0.0410 swing high or the latest local high that invalidates the setup.
📝 This is not investment advice, only an educational report! Please use confirmations and proper risk management before trading.
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