🔥 After a long stretch in bearish territory, $SQQQ suddenly printed a huge bullish candle today on 5.5x volume
It punched straight through the 12-hour high and closed at 34.250
Looks like a reversal?
Let me pour some cold water on that 🧊
The strategy only checks 5 of 7 boxes
The 1h and 4h are still fighting it out in the bearish camp
The real dividing line is the top of the moving-average cluster at 33.298
I’m not chasing it here
I’m waiting for a pullback—
If it holds above 33.298
and the 1h stabilizes without making a new low,
then I might be willing to step in 🔍
RSI at 75, CCI at 146
The indicators are overheated
There’s no multi-timeframe confirmation, and BTC/ETH are still leaning bearish
Jumping in at this level is just handing your chips to someone else 💸
What do you think—is this big bullish candle the start of a reversal, or just a dead-cat bounce?
⚠️ Technical analysis is for reference only and does not constitute investment advice
#SQQQ $SQQQ
It punched straight through the 12-hour high and closed at 34.250
Looks like a reversal?
Let me pour some cold water on that 🧊
The strategy only checks 5 of 7 boxes
The 1h and 4h are still fighting it out in the bearish camp
The real dividing line is the top of the moving-average cluster at 33.298
I’m not chasing it here
I’m waiting for a pullback—
If it holds above 33.298
and the 1h stabilizes without making a new low,
then I might be willing to step in 🔍
RSI at 75, CCI at 146
The indicators are overheated
There’s no multi-timeframe confirmation, and BTC/ETH are still leaning bearish
Jumping in at this level is just handing your chips to someone else 💸
What do you think—is this big bullish candle the start of a reversal, or just a dead-cat bounce?
⚠️ Technical analysis is for reference only and does not constitute investment advice
#SQQQ $SQQQ