$AKE drops 5.8% on 3.6x volume — is this distribution before another leg lower?
My 1h bias remains bearish. The sharp selloff combined with the volume expansion looks more like continuation/distribution than a confirmed bottom. Daily and weekly structure are still bullish, so this is a counter-trend short inside the broader uptrend.
Key levels:
- First downside target: 0.03118
- Second target: 0.02936
- Short zone: 0.03380–0.03518
- Bearish invalidation: 1h close above 0.04099
I would not chase the dump. The setup becomes interesting only if price retests 0.03380–0.03518 and shows a clear rejection, bearish engulfing candle, or lower-timeframe structure break.
BTC 1h structure is also bearish, while OI is falling, adding pressure to the downside. OI is currently around $19.0M, down 4.9% over 24h, with funding at +0.0050% and taker flow near 0.98x.
If the supply zone fails to reject price, I skip the short. Since this is counter-trend against the higher-timeframe structure, confirmation matters more than chasing momentum.
Not investment advice. Educational report only.
#CryptoTrading #BinanceSquare #Altcoins #TradingStrategy #TechnicalAnalysis $AKE
My 1h bias remains bearish. The sharp selloff combined with the volume expansion looks more like continuation/distribution than a confirmed bottom. Daily and weekly structure are still bullish, so this is a counter-trend short inside the broader uptrend.
Key levels:
- First downside target: 0.03118
- Second target: 0.02936
- Short zone: 0.03380–0.03518
- Bearish invalidation: 1h close above 0.04099
I would not chase the dump. The setup becomes interesting only if price retests 0.03380–0.03518 and shows a clear rejection, bearish engulfing candle, or lower-timeframe structure break.
BTC 1h structure is also bearish, while OI is falling, adding pressure to the downside. OI is currently around $19.0M, down 4.9% over 24h, with funding at +0.0050% and taker flow near 0.98x.
If the supply zone fails to reject price, I skip the short. Since this is counter-trend against the higher-timeframe structure, confirmation matters more than chasing momentum.
Not investment advice. Educational report only.
#CryptoTrading #BinanceSquare #Altcoins #TradingStrategy #TechnicalAnalysis $AKE