The news was calling for a surge to 0.089—$PYTH , so why did it suddenly turn around and drop 2.98%?
It did rebound from the 20-day EMA and gain 11%—that part is true.
The current price is 0.0798, still a ways off from 0.089.
It gave back its gains; that’s just intraday volatility.
Short-term news can’t determine the medium-term trend. Don’t read too much into it.
Wait for it to move back above the 20-day EMA before following. If it falls below the rally’s starting point, get out.
Keep your time frames straight. Don’t mistake a rebound for a reversal.
Comment 1 if you’d enter intraday; comment 2 if you’d wait for the medium-term trend to become clear before entering.
#Write2Earn #BinanceSquare #PYTH Trading #TradingTournament
It did rebound from the 20-day EMA and gain 11%—that part is true.
The current price is 0.0798, still a ways off from 0.089.
It gave back its gains; that’s just intraday volatility.
Short-term news can’t determine the medium-term trend. Don’t read too much into it.
Wait for it to move back above the 20-day EMA before following. If it falls below the rally’s starting point, get out.
Keep your time frames straight. Don’t mistake a rebound for a reversal.
Comment 1 if you’d enter intraday; comment 2 if you’d wait for the medium-term trend to become clear before entering.
#Write2Earn #BinanceSquare #PYTH Trading #TradingTournament