That spike to 0.0326 looked like a breakout for a second, but it got swatted down immediately. Now we're sitting at 0.0265 and honestly, it's looking pretty ugly. The price action wiped out almost all the gains from that hourly pump. We are currently testing a very thin support area around 0.0258. If that level breaks, we are likely heading right back to where we started at 0.0247. Volume on the way down was heavy, which usually means people were tripping over each other to exit. I’m staying out of this one for now. Unless we see a miracle recovery above 0.0280, this just looks like a massive bull trap. Watch the next candle close before you decide to catch this falling knife.
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Look at that massive wick on $OXT .
That spike to 0.0326 looked like a breakout for a second, but it got swatted down immediately. Now we're sitting at 0.0265 and honestly, it's looking pretty ugly.
The price action wiped out almost all the gains from that hourly pump. We are currently testing a very thin support area around 0.0258. If that level breaks, we are likely heading right back to where we started at 0.0247.
Volume on the way down was heavy, which usually means people were tripping over each other to exit.
I’m staying out of this one for now. Unless we see a miracle recovery above 0.0280, this just looks like a massive bull trap.
Watch the next candle close before you decide to catch this falling knife.
#PredictionMarketDebate