$S ❄️ 2.6x Sell Volume Spike on
$S , distribution or shakeout?
- Given the scale of this volume spike and how closely it aligns with major support breaks, I expect further downside in the short term, especially if there’s no immediate absorption of this selling pressure
- I would look for short setups on weak bounces, especially at 0.02265–0.02240, and ideally after a confirmation candle or failed rally pattern. Entry around 0.02265 if rejected, target 0.02132 and then 0.02065 as take-profits
- Place stop-loss above the local swing high or above the resistance level from which you enter (for example, above 0.02265, or above 0.02412 for a higher risk/reward setup)
- If price surges above 0.02412 and holds, that would invalidate the bearish bias and it would be better to avoid shorts or to switch bias if a bullish reversal confirms
- Wait for confirmations like a rejection wick, bearish engulfing, or lower timeframe trend continuation before entry. If price simply consolidates here on low volume, wait for another impulsive move before acting 🚦
📝 This is not investment advice, only an educational analysis report. Trade carefully during abnormal volume events — sharp moves can reverse quickly, so always wait for confirmation and manage your risk!
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