After $BTW rose 23%, the first to let go on the board are the late-chasing hands.
In six hours of holding, it has stacked up another 14%. Those inside didn’t rush to exit, but the active selling pressure has already overpowered the buy side. In the recent stretch as well, it has pulled back more than 4% from the peak. In positions that aren’t very clean after such a run, the small players will follow along to see if they can grind a bit more.
What I’m most afraid of is that the hype doesn’t fade and it directly does a second surge. If the buy side regains initiative, I’ll leave—won’t stubbornly hold on.
In six hours of holding, it has stacked up another 14%. Those inside didn’t rush to exit, but the active selling pressure has already overpowered the buy side. In the recent stretch as well, it has pulled back more than 4% from the peak. In positions that aren’t very clean after such a run, the small players will follow along to see if they can grind a bit more.
What I’m most afraid of is that the hype doesn’t fade and it directly does a second surge. If the buy side regains initiative, I’ll leave—won’t stubbornly hold on.