Is This Fakeout Directing Aggressive Buyers Right Into A Bear Trap?
Entry: $0.04626
Take Profit: $0.04256
Stop Loss: $0.04760
Price hit resistance right at the upper trendline of a descending channel on the 4H chart after a sharp relief rally from $0.04264. Aggressive buyers getting lured in at resistance risk getting trapped as overhead supply cap momentum near $0.04673. Expect seller pressure to resume and drive price back toward channel support near $0.04256!
$PNUT
Entry: $0.04626
Take Profit: $0.04256
Stop Loss: $0.04760
Price hit resistance right at the upper trendline of a descending channel on the 4H chart after a sharp relief rally from $0.04264. Aggressive buyers getting lured in at resistance risk getting trapped as overhead supply cap momentum near $0.04673. Expect seller pressure to resume and drive price back toward channel support near $0.04256!
$PNUT
