everyone thinks $PONS is in full reversal mode just because of one green candle, but actually we are walking straight into a classic bull trap setup.
most traders lose their bags by fomo bidding relief pumps right under heavy overhead supply, only to get dumped on when momentum stalls.
ngl the bounce from the $0.3639 low up to $0.419 looks decent on the lower timeframes. but let us be real ser, the daily supertrend is still sitting heavy at $0.6376 and we have not even tested the first major resistance zone around $0.475 to $0.50 yet. while $BTC chops around, jumping in here without watching structure is pure gambling.
if we lose the local support between $0.38 and $0.40, that $0.3639 base is going to get tested again very fast. a real macro shift only happens if buyers can push through the $0.61 to $0.64 wall, so until then, this is strictly a relief bounce rather than a confirmed trend flip.
are you playing this relief move or waiting for a clean break above resistance?
#CryptoTrading #Altcoins #TechnicalAnalysis
most traders lose their bags by fomo bidding relief pumps right under heavy overhead supply, only to get dumped on when momentum stalls.
ngl the bounce from the $0.3639 low up to $0.419 looks decent on the lower timeframes. but let us be real ser, the daily supertrend is still sitting heavy at $0.6376 and we have not even tested the first major resistance zone around $0.475 to $0.50 yet. while $BTC chops around, jumping in here without watching structure is pure gambling.
if we lose the local support between $0.38 and $0.40, that $0.3639 base is going to get tested again very fast. a real macro shift only happens if buyers can push through the $0.61 to $0.64 wall, so until then, this is strictly a relief bounce rather than a confirmed trend flip.
are you playing this relief move or waiting for a clean break above resistance?
#CryptoTrading #Altcoins #TechnicalAnalysis
