Seeing my brothers making a fuss, buying and selling like crazy just because $KITE has turned red-hot, I can only scoff—this is exactly when the FOMO crowd starts to lose control.
The market is splashing water as if it’s raining. Many people see the price dropping and panic-sell, but for me, this is the time to stay cool and scrutinize every MA line.
Looking at the current technical data:
🔹 15-minute timeframe: Price is hovering right near the 0.0991 threshold, lining up with EMA(9) and MA(20). This suggests buying pressure is trying to hold the line here, forming a very fragile psychological support zone.
🔹 1-hour timeframe: MA(20) is sitting around 0.1015 and EMA(9) around 0.0998. Both of these lines are currently above the current price, creating a fairly stubborn short-term resistance zone. For a strong PUMP, $KITE must break above 0.1020 with a sudden surge in volume.
Personally, I think this down move is meant to shake out the “rookies” before a new wave. If the 0.0980 level is lost, the bears will take full control of the game.
My personal setup for this move:
🎯 Position: TEST LONG.
🎯 Entry: Zone 0.0985 – 0.0990.
🎯 Take-profit (TP): 0.1015 and 0.1050.
🎯 Stop-loss (SL): Close the candle below 0.0970.
I chose this plan because the RR (Risk/Reward) ratio is pretty solid for a technical bounce. What do you all think about this drop—an opportunity to accumulate, or are we about to see a deeper DUMP?
#Crypto #Trading #Binance
Note: This is my personal perspective, not investment advice. Trading always involves risk (DYOR).
The market is splashing water as if it’s raining. Many people see the price dropping and panic-sell, but for me, this is the time to stay cool and scrutinize every MA line.
Looking at the current technical data:
🔹 15-minute timeframe: Price is hovering right near the 0.0991 threshold, lining up with EMA(9) and MA(20). This suggests buying pressure is trying to hold the line here, forming a very fragile psychological support zone.
🔹 1-hour timeframe: MA(20) is sitting around 0.1015 and EMA(9) around 0.0998. Both of these lines are currently above the current price, creating a fairly stubborn short-term resistance zone. For a strong PUMP, $KITE must break above 0.1020 with a sudden surge in volume.
Personally, I think this down move is meant to shake out the “rookies” before a new wave. If the 0.0980 level is lost, the bears will take full control of the game.
My personal setup for this move:
🎯 Position: TEST LONG.
🎯 Entry: Zone 0.0985 – 0.0990.
🎯 Take-profit (TP): 0.1015 and 0.1050.
🎯 Stop-loss (SL): Close the candle below 0.0970.
I chose this plan because the RR (Risk/Reward) ratio is pretty solid for a technical bounce. What do you all think about this drop—an opportunity to accumulate, or are we about to see a deeper DUMP?
#Crypto #Trading #Binance
Note: This is my personal perspective, not investment advice. Trading always involves risk (DYOR).