$SOPH is a good example of why I don't like chasing vertical pumps. We called the short around $0.0100 to $0.0130 while everyone was still talking about the upside.
Since then, SOPH pushed into $0.01390 and completely lost the momentum, retracing more than 50% of the pump. One of our members caught the short and locked the profit 👇
Now I'm not interested in celebrating the dump. I'm watching $0.00550 to $0.00580.
If that holds, SOPH could build a higher low and try another move. If it breaks, I think the market starts looking back toward the original breakout area around $0.00328.
The easy part was calling the top. The harder part is figuring out where the next real buyers show up.
Since then, SOPH pushed into $0.01390 and completely lost the momentum, retracing more than 50% of the pump. One of our members caught the short and locked the profit 👇
Now I'm not interested in celebrating the dump. I'm watching $0.00550 to $0.00580.
If that holds, SOPH could build a higher low and try another move. If it breaks, I think the market starts looking back toward the original breakout area around $0.00328.
The easy part was calling the top. The harder part is figuring out where the next real buyers show up.
