$ICNT The second test of 0.363—and this time, it closed above it
At 15:00, this 1-hour candle rose 16.9%, closing at 0.3692 on about 15.12 million U in volume, 3.7 times the usual amount.
My take: Unlike last night's short-covering rally, this time it closed above the 48-hour high on increased volume, with buyers in the lead. But coin-margined open interest only rose about 2% over the hour, failing to keep pace with the price. The current price of 0.361 has fallen back below the previous high, and the broader market is still cooling off, so chasing the rally could leave you caught in a whipsaw.
A sustained hold above 0.37 would confirm the move; a drop back below 0.35 would make it a false breakout.
$ICNT For this second leg, would you wait for a pullback confirmation or jump in now? Let me know in the comments.
#ICNT #山寨币 #Futures
Not investment advice.
At 15:00, this 1-hour candle rose 16.9%, closing at 0.3692 on about 15.12 million U in volume, 3.7 times the usual amount.
My take: Unlike last night's short-covering rally, this time it closed above the 48-hour high on increased volume, with buyers in the lead. But coin-margined open interest only rose about 2% over the hour, failing to keep pace with the price. The current price of 0.361 has fallen back below the previous high, and the broader market is still cooling off, so chasing the rally could leave you caught in a whipsaw.
A sustained hold above 0.37 would confirm the move; a drop back below 0.35 would make it a false breakout.
$ICNT For this second leg, would you wait for a pullback confirmation or jump in now? Let me know in the comments.
#ICNT #山寨币 #Futures
Not investment advice.
