$SNDK If this trend isn’t a bull trap, I’ll just eat five pounds straight away!
After the drop comes a surge, then after the surge there’s a slow grind downward—the rhythm is locked down tight.
People chasing longs may look like it’s going great right now, but once the price hits 1579 it stalls, then it falls back to 1547.
On the daily chart, the EMA5/10/20 are all sticking together around 1544-1548, and the MACD histogram is still green.
Trading volume also hasn’t caught up—after the spike, it directly shrank in volume.
With this kind of price action, there’s no good news at all—it’s basically just bullying the market!
They put on an act and pull up one bullish candle to lure in the chasers, and then slowly grind downward to trap them.
The people chasing longs might still be feeling happy right now, but take a look again in a couple of days—you might be cursing then.
It reminds me of when I used to work night shifts for too long; my body got weak.
When I was flirting with my girlfriend, in the beginning it surged hard—looks like momentum is strong—but it went limp in under three seconds.
Shandy’s current trend is exactly the same as what I experienced back then—rises fast, rests fast too.
After the drop comes a surge, then after the surge there’s a slow grind downward—the rhythm is locked down tight.
People chasing longs may look like it’s going great right now, but once the price hits 1579 it stalls, then it falls back to 1547.
On the daily chart, the EMA5/10/20 are all sticking together around 1544-1548, and the MACD histogram is still green.
Trading volume also hasn’t caught up—after the spike, it directly shrank in volume.
With this kind of price action, there’s no good news at all—it’s basically just bullying the market!
They put on an act and pull up one bullish candle to lure in the chasers, and then slowly grind downward to trap them.
The people chasing longs might still be feeling happy right now, but take a look again in a couple of days—you might be cursing then.
It reminds me of when I used to work night shifts for too long; my body got weak.
When I was flirting with my girlfriend, in the beginning it surged hard—looks like momentum is strong—but it went limp in under three seconds.
Shandy’s current trend is exactly the same as what I experienced back then—rises fast, rests fast too.
