$1000CHEEMS just hit resistance and got rejected 🩸
But something caught my attention 👀
The bearish candles are getting smaller, and the selling momentum seems to be slowing down. Buyers might be starting to step in, but I want to see proof before jumping into a trade.
Here's what I'm watching.
Above the resistance, there's a liquidity pool sitting near the previous highs. Price touched $0.000470 and got rejected, leaving liquidity above that level.
We can also see a potential double top forming on the chart. But here's the thing: not every double top leads to an immediate dump. Sometimes, price comes back to sweep the highs first, taking out liquidity before making its next move.
So, what's my plan? 🎯
I'm watching the $0.000438–$0.000448 zone for a strong bullish candle. Ideally, it should be larger than half the size of the previous closed bearish candle.
If buyers show that strength, I'll consider a LONG targeting $0.000476.
Invalidation: Below the previous low or $0.000426.
No confirmation, no entry. I'm not going to chase the price.
Let's see if
$1000CHEEMS goes for the liquidity above those highs. 👀
Always DYOR.
#1000CHEEMS #memecoin