I stayed away from $MUBARAK during yesterday’s pump.
A lot of people were chasing the move higher, but I wanted to see what happened after the excitement cooled off.
Once the sharp drop came, I started paying closer attention to the wallets. What caught my eye was the buying activity around the lower levels. Instead of seeing everyone rush for the exit, I noticed some larger wallets stepping in and accumulating.
That was enough to get my attention.
I opened a long around $0.042, with $0.052 as the area I’m watching. That would be roughly a 20% move from my entry zone.
Obviously, wallet activity alone doesn’t guarantee that price will go up. But I prefer setups where I can see buying interest appearing after a sell-off rather than chasing a candle that has already pumped.
The position is already open.
Now I’ll just watch how $MUBARAK reacts from here.
A lot of people were chasing the move higher, but I wanted to see what happened after the excitement cooled off.
Once the sharp drop came, I started paying closer attention to the wallets. What caught my eye was the buying activity around the lower levels. Instead of seeing everyone rush for the exit, I noticed some larger wallets stepping in and accumulating.
That was enough to get my attention.
I opened a long around $0.042, with $0.052 as the area I’m watching. That would be roughly a 20% move from my entry zone.
Obviously, wallet activity alone doesn’t guarantee that price will go up. But I prefer setups where I can see buying interest appearing after a sell-off rather than chasing a candle that has already pumped.
The position is already open.
Now I’ll just watch how $MUBARAK reacts from here.
