$RLC Did anyone get caught in that wick just now? Even though FOMO has eased at this stage, there are probably still a lot of trapped positions above and below, which is a big problem. If the price keeps moving toward the previous peak, the pressure to exit will be immense. That doesn’t mean the price can’t go up, though—wouldn’t want the long-side folks to lose hope. Whether it rises or not just depends on whether the money keeps flowing in. As for a price drop, I think that’s unlikely in the short term for now. After that wick just now, there are loads of trapped positions; they’ll probably hold on and wait for an opportunity. Maybe they’ll only cut their losses and exit once they’re completely worn out. The price is in no-man’s-land right now, so people will be reluctant to open new positions in either direction, making a short-term rise or fall very hard to predict. If you’re watching but haven’t opened a position yet, just keep watching. Don’t be afraid of missing out and force a trade in this uncertain phase. Wishing everyone a safe landing with a big bag of goodies!
$RLC