$RLC — BEFORE YOU SHORT, LOOK AT THE BIGGER PICTURE
$RLC has already pumped more than 100% in less than 24 hours, so the obvious reaction is to expect a dump.
But that’s exactly where I’d be careful.
My feed is filled with short calls, with traders trying to catch what looks like an obvious top. However, the buying activity I’m seeing doesn’t yet show the weakness I would expect after such a strong move.
If retail keeps building shorts while aggressive buying continues, the setup can become dangerous for bears.
We’ve seen this before: traders short the “obvious top,” price keeps pushing higher, shorts get liquidated, and the squeeze adds even more fuel to the rally.
So if $RLC reaches $1 or higher in the next few hours, I won’t be surprised.
Watch the confirmation instead of blindly chasing the short.
$RLC has already pumped more than 100% in less than 24 hours, so the obvious reaction is to expect a dump.
But that’s exactly where I’d be careful.
My feed is filled with short calls, with traders trying to catch what looks like an obvious top. However, the buying activity I’m seeing doesn’t yet show the weakness I would expect after such a strong move.
If retail keeps building shorts while aggressive buying continues, the setup can become dangerous for bears.
We’ve seen this before: traders short the “obvious top,” price keeps pushing higher, shorts get liquidated, and the squeeze adds even more fuel to the rally.
So if $RLC reaches $1 or higher in the next few hours, I won’t be surprised.
Watch the confirmation instead of blindly chasing the short.