That last 4H candle is a 59% body slam into the 1-cent floor.
And when a chart loses over half its value in a single candle, the old support levels stop meaning what they used to. 🔻
Here's the raw picture on $WTC: the 4H EMA7 is way below the EMA25 — 0.028 versus 0.043. Daily is even steeper. RSI pinned under 21 on both timeframes. That's a market that has completely lost its bid.
The volume profile tells the real story. The point of control sits around 0.067. Price is nowhere near it. Nearly everyone who traded this over the last several weeks is underwater, and the path back up is thick with trapped supply.
The levels that matter right now are brutally simple. The current pivot zone is around 0.0103, with the invalidation sitting just above at roughly 0.0109. If sellers stay in control, the next objective is the 0.0094 zone. Lose that and the macro picture points toward the mid-0.006s.
But here's the catch: funding is flat and open interest is zero. No leveraged crowd to squeeze. This is a spot-driven liquidation event, not a derivatives unwind. That often means the washout is genuine — a slow, grinding bleed rather than a violent snap-back.
My read: respect the downtrend until the 0.0109 zone is reclaimed on a 4H close. Until then, bounces are suspect, not opportunities.
Tap $WTC to pull up the chart and check these levels yourself — the 1-cent floor is the whole ballgame right now.
Follow me for the update if that floor cracks or holds. What's the one level you're watching on $WTC right now? 👇
⚠️ Not financial advice. DYOR.
#WTC #Crypto #BinanceSquare
And when a chart loses over half its value in a single candle, the old support levels stop meaning what they used to. 🔻
Here's the raw picture on $WTC: the 4H EMA7 is way below the EMA25 — 0.028 versus 0.043. Daily is even steeper. RSI pinned under 21 on both timeframes. That's a market that has completely lost its bid.
The volume profile tells the real story. The point of control sits around 0.067. Price is nowhere near it. Nearly everyone who traded this over the last several weeks is underwater, and the path back up is thick with trapped supply.
The levels that matter right now are brutally simple. The current pivot zone is around 0.0103, with the invalidation sitting just above at roughly 0.0109. If sellers stay in control, the next objective is the 0.0094 zone. Lose that and the macro picture points toward the mid-0.006s.
But here's the catch: funding is flat and open interest is zero. No leveraged crowd to squeeze. This is a spot-driven liquidation event, not a derivatives unwind. That often means the washout is genuine — a slow, grinding bleed rather than a violent snap-back.
My read: respect the downtrend until the 0.0109 zone is reclaimed on a 4H close. Until then, bounces are suspect, not opportunities.
Tap $WTC to pull up the chart and check these levels yourself — the 1-cent floor is the whole ballgame right now.
Follow me for the update if that floor cracks or holds. What's the one level you're watching on $WTC right now? 👇
⚠️ Not financial advice. DYOR.
#WTC #Crypto #BinanceSquare
