A double blockbuster! After surging 12%, $PONS pulled back—is this a shakeout or a bull trap? Targeting the bears’ defenses!
Are bullish developments a sell-the-news event or a starting line? Capital never sleeps, and candlesticks hold hidden clues!
On the news front, PONS surged 12% briefly after being listed on both Upbit and Coinbase! Current price: 0.4265. Technically, a massive spike printed a wick at 0.4319, RSI(6) reached 73 and entered overbought territory, and the MACD formed a bullish crossover. But fund flows show net outflows exceeding 50 million over 7D, raising suspicions that major players may be using the good news to shake out holders! A large cluster of short liquidations sits in the 0.432–0.45 range above. A breakout could trigger a short squeeze.
Trading suggestions:
For longs, look to enter if price pulls back to around 0.405–0.41 and stabilizes. For shorts, consider a small position if a rebound to around 0.435–0.44 meets resistance.
Personal view: Some of the positive news from the two exchanges has already been priced in, and the market is severely overbought in the short term. Avoid blindly chasing the rally; waiting for a pullback to stabilize may offer a golden opportunity!
#IMF豁免萨尔瓦多比特币持仓超限 #Sui创4060万TPS纪录 #币安推出BinanceIntelligence
Are bullish developments a sell-the-news event or a starting line? Capital never sleeps, and candlesticks hold hidden clues!
On the news front, PONS surged 12% briefly after being listed on both Upbit and Coinbase! Current price: 0.4265. Technically, a massive spike printed a wick at 0.4319, RSI(6) reached 73 and entered overbought territory, and the MACD formed a bullish crossover. But fund flows show net outflows exceeding 50 million over 7D, raising suspicions that major players may be using the good news to shake out holders! A large cluster of short liquidations sits in the 0.432–0.45 range above. A breakout could trigger a short squeeze.
Trading suggestions:
For longs, look to enter if price pulls back to around 0.405–0.41 and stabilizes. For shorts, consider a small position if a rebound to around 0.435–0.44 meets resistance.
Personal view: Some of the positive news from the two exchanges has already been priced in, and the market is severely overbought in the short term. Avoid blindly chasing the rally; waiting for a pullback to stabilize may offer a golden opportunity!
#IMF豁免萨尔瓦多比特币持仓超限 #Sui创4060万TPS纪录 #币安推出BinanceIntelligence