Entered with a 5.3% unrealized loss—$GWEI , this wave of liquidation is even harsher than I imagined. Just rechecking the past 24h: it dumped from 0.0375 to 0.0287, and the sell-side order flow of $11.3M is pinned down hard. But the more it’s like this, the more I feel a short-term bottom is forming.

Full plan: at the current price of 0.0293, place orders with a light position using 20% of the position size (stop-loss at 0.0278; if it breaks this level, only then will I add at 0.0265, and acceleration will start). First take-profit: 0.0320 (the 38.2% Fibonacci retracement of the 24h high). Second take-profit: 0.0345 (if it flips above 0.03 with volume support). Total position size won’t exceed 40%. The remaining “ammo” waits for right-side confirmation.

Two scenarios I’m anticipating:
A: If today can hold 0.0290 and the hourly candle closes bullish with expanding volume, then 0.0287 is likely the short-term floor. I’ll add 10% at 0.0295, and raise the stop-loss to 0.0285.
B: If it keeps drifting lower and breaks below 0.0280, then it likely needs to go to 0.0255 to find support. I’ll stop-loss and exit directly—no bottom-catching. Wait for a rebound signal (e.g., a 15-minute bottom divergence plus volume contraction and stabilization).

Why do I dare to bet? After peaking at 0.0375, this leg is a sharp drop of 21.87%, but the GBI index didn’t collapse in sync. On-chain data shows the main wallets have scattered buying around 0.0290. Current P&L: -5.3%, but the planned stop-loss line only takes it down to about -8%, which I can accept.

Trading advice: In the 0.0290–0.0295 range, you can try a long with a small position; stop-loss at 0.0278; take-profit at 0.0320. Don’t go heavy—this spot isn’t solid yet.

Update results in the comments.