🐋 $BSB hit with 5.9x sell volume spike, is this over or just starting?
- The sudden surge in volume with aggressive selling points to strong distribution or a cascade of stop-losses hitting—likely a mix of smart money distribution and panic selling.
- My main expectation is for the price to CONTINUE LOWER in the short term unless there is a strong reversal below the most recent swing low at 0.13917.
- Example short setup: If the price retests and rejects 0.14413 (watch for bearish candle patterns or a rejection wick), consider entering a short targeting 0.13993 then 0.13855. Place your stop-loss just above the swing high of the rejection candle or above 0.14678.
- Example reversal long: If price sweeps below 0.13917, prints a bullish pin bar or bullish engulfing, and quickly reclaims 0.13993, a quick scalp long can be attempted with targets at 0.14266 and possibly 0.14413. In this case, stop-loss should be just under the swing low of the wick.
- My bias will turn bullish only if price reclaims and holds above 0.14678 with confirmation—such as multiple bullish closes or a surge in buying volume.
- Wait for clear confirmation before entering. If price simply drifts below 0.14266 without a decisive candle, stay patient. Sharp rejection wicks, strong engulfing candles, or lower timeframe reversals are your best signals.
📝 This is not investment advice, but an educational analysis. Trade carefully, especially around these abnormal volume spikes—these are spots where smart money hunts for liquidity!
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