$JCT is bleeding hard 🚨💀
Price is at 0.001772 after nuking from 0.003137. That's a brutal vertical drop with almost no bounce. This area matters because we're now sitting just above the 24h low of 0.001536 with zero structure built below.
Bullish scenario:
If buyers step in and reclaim 0.002023, we could see a relief bounce toward 0.002424. But that's a big if after a candle like that.
Bearish scenario:
Downside prevails as long as 0.002023 holds as resistance. If we lose 0.001536, there's nothing stopping a deeper flush.
My read:
This is a falling knife in every sense. Catching this after a 40% dump is gambling, not trading. I want to see a base form and a reclaim of 0.002 before even looking at it. Watching 0.001536 closely.
Price is at 0.001772 after nuking from 0.003137. That's a brutal vertical drop with almost no bounce. This area matters because we're now sitting just above the 24h low of 0.001536 with zero structure built below.
Bullish scenario:
If buyers step in and reclaim 0.002023, we could see a relief bounce toward 0.002424. But that's a big if after a candle like that.
Bearish scenario:
Downside prevails as long as 0.002023 holds as resistance. If we lose 0.001536, there's nothing stopping a deeper flush.
My read:
This is a falling knife in every sense. Catching this after a 40% dump is gambling, not trading. I want to see a base form and a reclaim of 0.002 before even looking at it. Watching 0.001536 closely.