$CRCL bounced back above the moving average and thought about playing a reversal. But the daily chart can’t even string together a single full bullish candle. This pullback— I take it as a bear-market trap and I’d smash it down hard. The big-picture direction that was dumped from a high level is still being held down. On the 4-hour and daily charts, both are pointing downward; any rebound is just handing the short side a blade. On the spot side, this leg hasn’t shown so much as one big order “footprint.” Without main players stepping in to stabilize things, going long is just handing yourself over to be killed.