$TRUTH 🐋 Massive Sell-Side Volume on
$TRUTH at 7.0x
- Given the clear signs of distribution and strong selling with extreme volume, I expect more downside after a possible short retracement.
- Watch for price to retest the bearish FVG area (0.011293–0.011195). If there is a weak rejection here (such as a bearish engulfing, pin bar, or visible loss of momentum), that’s an ideal short entry.
- Example scenario: If price bounces to 0.011250 and stalls, showing a long upper wick or several small-bodied candles, you can look for a short entry with confirmation from a 5m bearish market structure break.
- Take profit at 0.011121 (recent low, possible reaction) and 0.010975 (major support).
- Stop-loss should be placed above the FVG or just above the 0.011679 resistance if you want more protection.
- If price breaks and closes above 0.011685 (recent swing high), this bias would change to bullish, as it would signal absorption of supply and a potential reversal.
- Current move looks like smart money distribution rather than just panic selling, especially considering the liquidity sweep and immediate volume spike.
📝 This analysis is for educational purposes only and not investment advice. The current setup shows likely further downside after a relief bounce, but always wait for confirmation like a bearish engulfing candle, pin bar, or lower timeframe reversal before entering. Manage risk carefully, especially in high-volatility situations like this.
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#TRUTH