$GRIFFAIN โ๏ธ 3.4x Unusual Selling Volume on
$GRIFFAIN , what just happened?
- With the current volume anomaly and strong selling pressure, this does look like smart money distribution or a major liquidation cascade. Thereโs a high probability price will further test lower supports before stabilizing.
- I expect price to visit 0.009192 and potentially 0.009056. If panic continues, even 0.008856 or 0.008435 could be reached, especially if thereโs another strong liquidation flush.
- For a short setup: wait for price to bounce toward 0.009864 or 0.010259, then look for clear bearish reversal confirmation (rejection wicks, bearish engulfing, high volume sell bars). Entry could be around 0.009860โ0.010200 with a take profit at 0.009192 or 0.009056. Place stop-loss at a swing high above 0.010259.
- For a possible scalp long: if price flushes below 0.009192 and quickly reclaims this level with strong reversal patterns (pin bar, engulfing, or lower timeframe bullish structure), you could consider a long entry, aiming for a take profit around 0.009501โ0.009864. Place stop-loss at the swing low of the flush.
- A change in bias to bullish would require price to reclaim 0.009864 and then 0.010259 with strong bullish momentum and volume.
- Wait for confirmation! Donโt chase the first move after a spike โ look for exhaustion or reversal signals (like a pin bar or higher low for longs, or a bearish engulfing at resistance for shorts).
๐ This is not investment advice, but purely an educational analysis. Trade safely and always wait for confirmation after such unusual volume events!
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