Jul. 7 at 9:05 PM
$BLZE let’s break down the day:
Dropped immediately hitting the 9d ma on the daily (first time since this run) and then more low volume buying throughout the day moved it 15% of the lows when the rest of the market was bleeding out….sure, okay, congrats bulls.
But wait they say! “Don’t you see the volume from the earnings and Coreweave news?” Sure do, but I also see how the volume has dropped off completely since then….where are all the buyers?
The only reason this behaved the way it did today is bc of the low float.
Selling pressure is continuing to increase albeit slowly.
It hit the high it has created from the Coreweave news and rejected it. I’m guessing they’ll try to take one more stab at it and see what happens.
If it can successfully blow past the new high it has created off the news, then I’m out and congrats. Until then, I’m watching and waiting.
No sane person looks at the daily and weekly, and says, “yupp that’s a buy!”
July tends to be rough for the market.
