🚨
$OG Stuck in a Rut with Bears Still in Charge
Price hugging the lower Bollinger Band, momentum looking pretty weak. Feels like consolidation with a bearish lean; not much fire from the bulls lately. Here's my quick read on why I'm leaning cautious bearish, but keeping an eye out for any flip.
*Volume Check:
Latest candle's basically whispering at 613 volume—super low, no real conviction either way. Volume's been drying up during this range, which could mean quiet accumulation... or slow distribution. Either way, no one's rushing in to push it higher.
*Flow Picture:
Derivatives are bleeding—net outflows everywhere, like -110k in 24H and a chunky -1.4M over 7D. That's persistent selling pressure in contracts, classic bear fuel. Spot's also leaking a bit (-37.5k daily), though not as brutal—probably retail taking chips off the table. Short-term (30m-4H) we've seen tiny inflows in contracts, like little bullish stabs, but they fizzle quick—no follow-through.
*My Play
$OG : Cautiously bearish primary—shorts near R1 resistance (12.391) or on a confirmed break below S1 support (11.824) with volume backing it. Reversal long? Only if it holds S1 tight, RSI around 35, and MACD flips bullish—super conditional.
- Stop: For shorts, 12.80 if shorting ~12.40. Longs? 11.50 from 12.00.
- Targets
$OG : Shorts eye s2 support (11.631) first, then S3 support (11.257. Longs? R1 resistance (12.391) to R2 resistance (12.765) if it surprises.
What are you seeing on OG? Bear trap or legit downside?
#og #OGUSDT #OGFanToken