💡 A soul-searching question (if you're analyzing chart $RLC )
When faced with this “roller coaster” market, with an 80% move in a single day, a purely technical trader might think:
For holders: With the MA7 below (0.6912) still miles away from the current price, would you take profits at these highs now, or hold on and wait for the MA7 to catch up?
For those on the sidelines: Would you try to catch this “falling knife from way up high,” betting near 1.07 that it will break through 1.4887? Or would you patiently wait for a pullback to around 0.9475, or even 0.69, and look for an opportunity once the moving averages catch up?
Key support level: If 0.9475 is the short-term “line of life,” what would you do if the price breaks below it?
When faced with this “roller coaster” market, with an 80% move in a single day, a purely technical trader might think:
For holders: With the MA7 below (0.6912) still miles away from the current price, would you take profits at these highs now, or hold on and wait for the MA7 to catch up?
For those on the sidelines: Would you try to catch this “falling knife from way up high,” betting near 1.07 that it will break through 1.4887? Or would you patiently wait for a pullback to around 0.9475, or even 0.69, and look for an opportunity once the moving averages catch up?
Key support level: If 0.9475 is the short-term “line of life,” what would you do if the price breaks below it?