"Four consecutive large bearish candles in four hours, chips pouring like an avalanche, yet the main force secretly 'catches the knife' in the 0.221-0.223 range — panic selling and bottom fishing are staging their final showdown."

Key interval structure
1. Value anchoring area: POC 0.2233 (5809M transaction) — Once the price returns here, bulls and bears will switch hands fiercely again.
2. High volume area:
• 0.2215-0.2224 (HVN, ≈4900-5800M) — The first short-term rebound buffer zone.
• 0.2278-0.2287 (HVN, ≈4700M) — If it breaks 0.225, the second target.
3. Low volume gap:
• Below 0.1884-0.1920 (LVN) — If it breaks down through 0.216 with volume, it may quickly slide to this area.
• Above 0.250-0.252 (LVN) — If broken, resistance is thin, may accelerate to 0.26.
4. 70% volume coverage area: 0.2027-0.2439, current price 0.222 is at the lower bound of the range, and the technical aspect is close to oversold territory.

Momentum validation
• POC area Up/Down Vol = 39.3% / 60.7%, still dominated by sellers, but a consecutive four shrinking shadows appeared below 0.220-0.221, indicating a decrease in selling pressure.
• Recent 1h volume shrank 32% compared to the average; if it retests around 0.220 with a bullish volume bar (Up Vol > 60%), it is seen as a bullish reversal signal.

Auxiliary judgment
• MA200: 0.2322, price deviation -4.3%, the largest negative deviation in the past 30 days, increasing demand for mean reversion.
• Bollinger Bands: Current price is close to the lower band, RSI 15.3, extremely oversold.
• Contract holdings: OI -1.55% in the past 24h, long-short ratio increased from 2.52 to 2.64, shorts are actively adding positions but the price has not made a new low, indicating implied short covering momentum.

Order book anomaly
• Buy wall: 0.20 with 79.8 million, sell wall: 0.25 with 122 million — extremely large orders create a "sandwich", breaking through either side in the short term will trigger liquidity crunch.

Market cycle
In a daily oversold rebound window within a weekly downtrend, can be defined as a transitional phase of "panic end → value return".

Trading strategy
Aggressive: Current price 0.222±0.001 go long directly, stop loss at 0.218 (below HVN 0.2215 outer -0.5ATR), target 0.2287 (first HVN), risk-reward ratio ≈6.8:1.
Conservative: Wait for a second retest of 0.220-0.221 on the 15-minute level with Up Vol > 60% showing engulfing/hammers before entering, same stop loss as above.
Cautious: Chase the long after breaking 0.225 and confirming with a retest, stop loss at 0.222, target 0.238 (upper edge VAH), risk-reward ratio ≈4.3:1.

Risk control tips
• If the 1h close falls below 0.216 (Bollinger Band lower band), the strategy is invalid, reverse to short at 0.205.
• Macro risk: If the market continues to plunge, DOGE may be linked to explore the LVN 0.19 area.

LP market-making advice
It is recommended to place concentrated orders in the range of 0.220-0.225, reasons:
1. This range is at the lower bound of the 70% volume coverage area, high probability of repeated fluctuations;
2. The order book shows buyer liquidity stacking, slippage is controllable;
3. Range height ≈2.3%, after bilateral fees, annualized returns can exceed 25%.

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