How brutal was this drop? Simply put—fewer people are entering, more are cashing out, and the liquidity in the pool is visibly drying up.

Remember last week’s “1011” liquidation event? Leverage players got wiped out completely. What’s worse is the macro environment isn’t helping: rate cuts? Don’t even think about it. Inflation? Still hanging in there. Plus, with international tensions running high, big funds have long since made their exit.

The signals on the chart are crystal clear.

A few key numbers to remember: anything above 134.59 is solid resistance, 130.41 is also a cap, 126.99 is the bull-bear dividing line, and if 121.54 breaks… well, let’s not even go there.

Technical indicators are even more straightforward: red bars shooting up, trading volume spiking—a classic panic sell-off. The MACD lines have crossed down below the zero axis, confirming that the short-term trend is still bearish. So those small rebounds? Most likely bull traps, don’t fall for them.

Where do we go from here? Personally, I think the downtrend isn’t over.

Even if there’s a rebound, it’ll probably stall around 130.41, then keep heading lower. If the 121.54 support doesn’t hold, there’s a lot more room to fall.

Two pieces of advice for trading: if you’re holding, sell in batches in the 130-134 range—don’t try to tough it out; if you’re looking to bottom fish, hold off and start buying in batches only between 126-121—never go all in at once.

That said, in such a lousy market, there’s actually one project that’s pretty interesting—Plasma.

While everyone else is panic selling and bailing, it’s actually making moves at this critical juncture. Why is it worth watching? Its technical architecture is genuinely impressive, based on modular...