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Is $XPIN actually trying to find a bottom here or is this just another trap?
The chart looks pretty painful to be honest. We’ve been in a straight downtrend and just hit 0.001395. Every time we try to bounce, the sellers just lean on it harder.
We are currently sitting right on top of the 24h low of 0.001371. If that level snaps, there isn't much historical support to catch us for a while. It’s basically a price discovery to the downside.
Volume is around 1.16M USDT which isn't exactly a massive institutional buy signal. The order book is basically a 50/50 split right now, so no one really has control.
I’m staying on the sidelines for this one. I need to see at least a double bottom or some actual green volume bars before I think about a long. Right now, it’s just catching falling knives.
#CryptoMarketBouncesBack