🚨 $POWER Clear Downtrend with Heavy Bearish Pressure
It's been in a clear downtrend, with big volume spikes on those red candles (like over 90M on some 4h bars during dumps). Upside moves? Super low volume, so no real buyers stepping in strong.
Futures capital flow is brutal – massive outflows across the board: -1.59M USDT in 4h, -4.13M in 24h. That's traders closing longs or piling into shorts. Spot data is a bit spotty, but the futures signal is screaming bearish.
*My own take $POWER
- Trend is down, no doubt – price action, indicators (RSI, KDJ, %B all oversold), and this capital flight all align.
- But it's getting extremely oversold, so a sharp bounce (short covering) could hit anytime. Not the spot for aggressive shorts chasing the drop.
*My trade idea $POWER
- Wait for a pullback to resistance for better entry. Retest of broken support (now resistance) around MA5 ~0.236 or middle Bollinger Band ~0.308 would be perfect for shorting.
- Stop-loss: if entering near 0.236, SL at 0.248
- Target: retest of recent lows ~0.200. If it breaks lower, could head to 0.138.
Not chasing shorts at these oversold levels – too risky for a snapback rally. Anyone seeing signs of reversal or still bearish? #power #powerusdt #PowerProtocol