Everyone thought that massive spike was the start of something big, but look at it now.

$JOE ‌ basically went on a wild run up to 0.078 and then completely pulled a "u-turn." We’ve seen four red daily candles in a row, and it’s slowly bleeding back toward the original breakout zone. It’s painful to watch if you bought the top.
Right now we are sitting at 0.0454. There’s some minor support here, but the volume on this drop isn't showing much of a bounce yet. If we can't hold 0.044, we’re likely heading all the way back down to 0.038 where this whole move started.
The order book is leaning a bit heavy on the sell side, so there's definitely some pressure. I’m waiting to see if buyers step in around this level to form a higher low, otherwise, that spike was just a classic liquidity grab.
Not touching this until I see some green strength return.
What’s your plan? Catching the knife or waiting for the floor?

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