Looks like the Cookie DAO street party is coming to an end. After a powerful hype and a local surge in the news, the project has clearly overheated. Buyers have run out of steam, the spark has faded, and the upward move has choked on strong resistance.
The chart clearly shows that the market is ready for a cooldown. The burst of emotions has already been played out, and now it’s time for some common sense. You can open a short position, expecting to capture a great move during the correction. Those who entered at the very top will now start nervously locking in losses, which will only speed up the drop.
Keep your finger on the pulse and don’t forget about stop-losses. The market doesn’t forgive greed.
$COOKIE
The chart clearly shows that the market is ready for a cooldown. The burst of emotions has already been played out, and now it’s time for some common sense. You can open a short position, expecting to capture a great move during the correction. Those who entered at the very top will now start nervously locking in losses, which will only speed up the drop.
Keep your finger on the pulse and don’t forget about stop-losses. The market doesn’t forgive greed.
$COOKIE