【After a 20% plunge, is it time to buy the dip? PROVE's 'golden pit' emerges】 Retail investors panic and cut losses, while the main players quietly accumulate, the next target of 1.5 USDT has been locked in!
Market summary in one sentence
PROVE fell from a high of 2.02 to 0.97, with 13% of contract positions evaporating in 24 hours, but large spot orders have built an 'invisible wall' at 0.96-0.98—this is not a collapse, but the market makers' final washout.
Key interval structure and volume distribution
1. Value anchoring area: POC=1.0229, 184M units traded here in the past 2 days, becoming the central point of contest between bulls and bears.
2. High volume area:
• HVN1: 0.97-0.99, 166M traded, Up Vol accounts for 83%, clear support from spot market;
• HVN2: 1.02-1.04, 172M traded, short-term selling pressure.
3. Low volume gap:
• LVN1: 1.63-1.67, only 36M traded, a breakthrough would create a vacuum above, potentially hitting 1.8 quickly.
4. 70% volume coverage area: 0.29-1.46, current price is in the lower half of the range, not overbought.
Momentum verification:
• In the 0.96-0.99 area, Up Vol > 80%, buying dominates;
• In the 1.02-1.04 area, Down Vol rises to 25%, short-term selling pressure.
Bollinger Bands: Price is at 29% of the lower band, MA200 deviation -7%, exhibiting mean reversion momentum.
Open positions: 24h OI decreased by 13%, leveraged longs have largely exited, favoring a light upward movement.
Market cycle judgment
In the 'mid-term correction of a bull market'—the weekly chart still stands above the yearly line, and the daily chart is quickly declining with reduced volume + spot support, consistent with the characteristics of 'violent washout.'
Trading strategy
• Aggressive: Buy if a Pinbar appears in the 0.965-0.970 LVN, stop loss at 0.955 (below HVN), target 1.04/1.15, risk-reward ratio ≈ 3.2.
• Moderate: Pursue long positions upon breaking 1.023 POC and a 15min close with Up Vol > 60%, stop loss at 1.009, target 1.15, risk-reward ratio ≈ 2.8.
• Conservative: Wait for the daily line to recover above 1.05, then buy on a pullback to 1.03-1.04, stop loss at 0.99, target 1.15-1.25, risk-reward ratio ≈ 4.0.
Strategy invalidation: Daily close below 0.94 or 1h Up Vol continuously < 40%.
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