It’s interesting - my orders today were filled instantly, even though they didn’t show up on the market depth, which clearly points to algo selling still being active. From my experience, the ongoing share price decline is most likely result of a large seller, probably an insto, using algorithms to offload shares quietly without drawing attention.
Basically this creates a constant sell wall that keeps the sp under pressure. At the same time, bots seem to be amplifying the trend, instantly selling into any buyers like me and sustaining the decline. No doubt people are fearful and are panic selling is adding fuel to it, never underestimate people acting on emotion.
It looks like we’ll have to wait for the seller to finish or for a catalyst to shift the momentum.
PYC Price at posting:
$1.04 Sentiment: Buy Disclosure: Held
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