Open an account and you see a bullish candle that surged 15%—are your hands already itching?
$SKYAI Today it jumped straight from 0.0505 to 0.0601, with trading volume of 235 million and trading value of $13.2 million. The bulls are swallowing this move pretty aggressively.
But don’t look at only the percentage gain—going from 0.0505 to 0.0604 on that kind of volume isn’t something a one-way move eats up; it wasn’t hammered out by back-and-forth grinding. The bulls are pushing orders upward, while the bears basically haven’t fought back.
The issue is that the high at 0.0604 has already stalled twice. Can it hold and break through to decide whether this candle is a true breakout or a bull trap?
Set the stop-loss at 0.0520. If it breaks, it returns to range-bound consolidation. First, watch whether it can get above 0.0680—if it does, then you can bet on 0.0750. The loss is roughly 3 units in exchange for 8 to 15 units of upside—do you really want to let the math be something you avoid?
👀
Right now bulls and bears are still tussling around the 0.060 level. It’s not too late to act after the next four-hour candle closes and we know whether it’s a breakout or a pullback.
#SKYAI
$SKYAI Today it jumped straight from 0.0505 to 0.0601, with trading volume of 235 million and trading value of $13.2 million. The bulls are swallowing this move pretty aggressively.
But don’t look at only the percentage gain—going from 0.0505 to 0.0604 on that kind of volume isn’t something a one-way move eats up; it wasn’t hammered out by back-and-forth grinding. The bulls are pushing orders upward, while the bears basically haven’t fought back.
The issue is that the high at 0.0604 has already stalled twice. Can it hold and break through to decide whether this candle is a true breakout or a bull trap?
Set the stop-loss at 0.0520. If it breaks, it returns to range-bound consolidation. First, watch whether it can get above 0.0680—if it does, then you can bet on 0.0750. The loss is roughly 3 units in exchange for 8 to 15 units of upside—do you really want to let the math be something you avoid?
👀
Right now bulls and bears are still tussling around the 0.060 level. It’s not too late to act after the next four-hour candle closes and we know whether it’s a breakout or a pullback.
#SKYAI