$STRK scenario 2 played out as expected. The 1H close below $0.08 triggered the breakdown, and price ran cleanly through into our TP1.
Interestingly, price has since staged a sharp bounce to $0.087 following Starknet’s announcement of a community vote on transitioning to a quantum-resistant L1. This development is likely contributing to the buying pressure we’re seeing on the chart.
This is a clear reminder of why technical analysis, fundamentals, and trade management cannot be treated in isolation when managing an active position.
Given the announcement, I closed the trade in profit. News of this nature is often used to fuel short-lived rallies, attract buyers, and create liquidity traps before price resumes its prior direction. This bounce could be one of those traps.
For now, I’ve taken partial profits and am watching for a potential re-entry.
#NFA
Interestingly, price has since staged a sharp bounce to $0.087 following Starknet’s announcement of a community vote on transitioning to a quantum-resistant L1. This development is likely contributing to the buying pressure we’re seeing on the chart.
This is a clear reminder of why technical analysis, fundamentals, and trade management cannot be treated in isolation when managing an active position.
Given the announcement, I closed the trade in profit. News of this nature is often used to fuel short-lived rallies, attract buyers, and create liquidity traps before price resumes its prior direction. This bounce could be one of those traps.
For now, I’ve taken partial profits and am watching for a potential re-entry.
#NFA