$QKC Classic Rejection → Dump
You can clearly see that:
Price had a sharp upward move earlier in the session (big green candles around 10:15–10:45).
It hit a local high near ~0.00490.
Instead of breaking higher, it got rejected and reversed hard.
👉 This pattern often means:
Early buyers took profits.
Late buyers got trapped at the top.
Sellers stepped in aggressively.
That usually leads to a fast pullback — exactly what happened here.
2️⃣ Rejection at Moving Averages (MA)
On your chart, there are two moving averages visible:
A faster MA (yellow)
A slower MA (purple)
What happened?
Price tried to recover later but could NOT break above the purple MA.
Every attempt to push higher was rejected.
That turns the purple line into strong resistance.
In simple terms for your post:
“QKC failed to reclaim key resistance, which triggered more selling pressure.”
3️⃣ Volume Confirms the Drop
Look at the volume bars at the bottom:
During the dump: volume spikes.
During the bounce: volume is weaker.
This is bearish because it means:
Sellers are strong.
Buyers are not confident enough to push price back up.
Good line for your post:
“High selling volume on the drop shows strong bearish momentum.”
4️⃣ Short-Term Trend Turned Bearish
Right now on this timeframe:
Price is making lower highs and lower lows.
It is trading below key moving averages.
Momentum looks weak.
That usually means:
More sideways or downward movement is more likely in the short term than a sharp recovery.
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