Normally when there's some sort of major PR or update which is widely known and everyone is waiting on, there's all this unbridled enthusiasm about the fact that when X happens, it's going to be an automatic moonshot. What tends to overwhelmingly happen is the news which is long been telegraphed gets priced into the trading and then when it finally happens, there's an initial blip of buying but then the selloff takes over and it crashes from there. Back in the day everyone used to call it a BORSON effect, ie buy on rumor sell on news.
One of the reasons I'm especially interested here is how the market is treating this known news event, but instead of pricing in upside the front running into the event has been a correction from .001s down to .0003 and now settling where we are. The idea that this massive selloff is going to manifest after it's made official is just as out of touch as thinking that a stock will go for a moonshot when news comes out that was already priced in a loooong time ago. This is the same situation in reverse. Everyone that wanted to sell on the R/S news is long gone, minus maybe a handful that will bail on the move to .001 thinking that will be all she wrote.
Whether or not you believe the hype behind the IP updates, which imo in this IP market is very easy to do (and almost foolish to doubt), what I do know for certain is this chart is the largest sideways base I've ever seen in the OTC and it's over a 100% move away from current levels. And the resistance is getting that much thinner by the tick. Once the market takes the pps to trade above the level it was at when it sold off on the R/S news, that will be an indication that the reaction was the wrong reaction. And thus begins the repricing, the 180 shift in sentiment and the triggering of the biggest base I've come across in 18 years of trading the OTC.
