$AKE The next trend is still down, folks. Look at the sell-pressure and the amplitude dropping quite deeply—huge volume but red candles. This is the stage where the sharks dump and take profits, fleeing after the pump-and-blow-off.
The resistance levels and moving average lines dipping downward like that clearly show the sell side is completely dominating.
Liquidity and buying power are weak and can’t withstand the broad wave of selling.
The current rebound is just a baiting move to lure longs into getting trapped for bottom-fishing after the price has dropped very sharply. The current trend is a short-term rally with large volume in short waves; the likelihood is that price will continue falling into lower support zones or move sideways choppily within a weak range before money flows back in. Right now, everyone trading should be cautious about bottom-fishing traps, or you might end up taking the whole sell-off straight to the face….
Wish you all great catches while riding the waves!!!
$AKE
The resistance levels and moving average lines dipping downward like that clearly show the sell side is completely dominating.
Liquidity and buying power are weak and can’t withstand the broad wave of selling.
The current rebound is just a baiting move to lure longs into getting trapped for bottom-fishing after the price has dropped very sharply. The current trend is a short-term rally with large volume in short waves; the likelihood is that price will continue falling into lower support zones or move sideways choppily within a weak range before money flows back in. Right now, everyone trading should be cautious about bottom-fishing traps, or you might end up taking the whole sell-off straight to the face….
Wish you all great catches while riding the waves!!!
$AKE
