šØ CTK surged up to 28% in 4 hours, with a 24H gain of +16.8% and trading volume exceeding $61 million, shooting straight to the top of Binanceās gainers list!
But whatās truly strange is this: it has already dropped 5.9% in 5 minutes and 7.7% in 1 hour, OI fell 6.8%, while retail long positions rose to 1.8Ć. Different data sources still need verification, so donāt look only at the gains.
š What does this mean? When everyone is shouting about a breakout, the people chasing higher prices may just be catching the last leg up. Being right about direction doesnāt necessarily mean youāll make money.
My view: short-term bias is bullish, but there are already signs of a top/reduction in positions. Absolutely do not chase blindly. Only after volume returns and price holds above the previous high does continuation have a chance; if the drop accelerates, watch out for a long squeeze.
Do you think CTKās next move is to challenge $0.18, or will it first retest $0.123? š
#CTK #altcoin ęäø
But whatās truly strange is this: it has already dropped 5.9% in 5 minutes and 7.7% in 1 hour, OI fell 6.8%, while retail long positions rose to 1.8Ć. Different data sources still need verification, so donāt look only at the gains.
š What does this mean? When everyone is shouting about a breakout, the people chasing higher prices may just be catching the last leg up. Being right about direction doesnāt necessarily mean youāll make money.
My view: short-term bias is bullish, but there are already signs of a top/reduction in positions. Absolutely do not chase blindly. Only after volume returns and price holds above the previous high does continuation have a chance; if the drop accelerates, watch out for a long squeeze.
Do you think CTKās next move is to challenge $0.18, or will it first retest $0.123? š
#CTK #altcoin ęäø