$SOXLB is currently at 108.99, just half a buck below the 24h high of 109.48, but I’m not making a move here. It’s up 4.07% over the last 4h, but only 0.48% in the last hour, so momentum has already slowed; more importantly, the 1h trading volume is only 0.2x the 24h average per hour—the buying pressure is fading. I’ve placed a bid at 104.5, around the one-third retracement level of today’s 95.21–109.48 range. If it gets there, I’ll see whether volume picks up; if it first breaks above 109.5 and holds on strong volume, I’ll admit I was wrong. Whether I chase it is another matter.

#SOXLB #BinanceSquare #Crypto