$1000000BOB went absolutely parabolic with a +111% pump, but that massive rejection wick at 0.0316 is a glaring warning sign! ๐๐ฏ๏ธ
Entry: ๐ฏ 0.02300 - 0.02500
SL: ๐ 0.01950
TP: ๐ฐ TP1: 0.03160 | TP2: 0.03500
This chart is a textbook example of a parabolic blow-off top. $1000000BOB pumped a ridiculous +111% in a single 15m candle from 0.01090 straight to 0.03167 ๐. It immediately got hit with a sharp rejection, dropping back to 0.026. The price is currently miles above all moving averages (MA7 is at 0.0158!). Trading a Perp this overextended is extremely dangerous. I'm waiting for a healthy pullback and consolidation before considering an entry. If it loses 0.0200, the pump is likely a fakeout and a full retrace is coming.
Am I wrong? Tell me below ๐
#crypto
Entry: ๐ฏ 0.02300 - 0.02500
SL: ๐ 0.01950
TP: ๐ฐ TP1: 0.03160 | TP2: 0.03500
This chart is a textbook example of a parabolic blow-off top. $1000000BOB pumped a ridiculous +111% in a single 15m candle from 0.01090 straight to 0.03167 ๐. It immediately got hit with a sharp rejection, dropping back to 0.026. The price is currently miles above all moving averages (MA7 is at 0.0158!). Trading a Perp this overextended is extremely dangerous. I'm waiting for a healthy pullback and consolidation before considering an entry. If it loses 0.0200, the pump is likely a fakeout and a full retrace is coming.
Am I wrong? Tell me below ๐
#crypto