Looking at $HOME
right now, the pump still looks attractive from the outside, but the candles are making me a little cautious.
The move up was strong, but near the highs, the momentum doesn’t look the same anymore. We’re seeing smaller candles and repeated rejections from higher levels. Buyers are still trying, but price is having trouble pushing forward.
This is usually the point where many late traders enter because everything looks bullish, but the risk of getting trapped starts increasing. Open Interest is still elevated while the strength behind the move is fading.
A quick bounce can happen, but if $HOME fails to break above the resistance zone, I’ll be watching for a downside move.
🔻 Short $HOME
TP: $0.0075
SL: $0.01147
Don’t judge the market only by green candles.
Sometimes the most convincing pumps are the ones that hide the biggest reversals.
#MastercardCompletesBVNKStablecoinAcquisition
#KOSPINikkeiOpenHigherOnChipStocks
#MoodysAssignsSKHynixFirstARating
right now, the pump still looks attractive from the outside, but the candles are making me a little cautious.
The move up was strong, but near the highs, the momentum doesn’t look the same anymore. We’re seeing smaller candles and repeated rejections from higher levels. Buyers are still trying, but price is having trouble pushing forward.
This is usually the point where many late traders enter because everything looks bullish, but the risk of getting trapped starts increasing. Open Interest is still elevated while the strength behind the move is fading.
A quick bounce can happen, but if $HOME fails to break above the resistance zone, I’ll be watching for a downside move.
🔻 Short $HOME
TP: $0.0075
SL: $0.01147
Don’t judge the market only by green candles.
Sometimes the most convincing pumps are the ones that hide the biggest reversals.
#MastercardCompletesBVNKStablecoinAcquisition
#KOSPINikkeiOpenHigherOnChipStocks
#MoodysAssignsSKHynixFirstARating