Why is $SPCX dropping despite positive news?
Many traders are confused why $SPCX pulled back from its recent high of 176.31 down to 147.83 (-5.79%) even when news and whale long positions look strong. Here is what is actually happening behind the charts:
"Buy the Rumor, Sell the News":
Big players and whales book profits immediately after a strong pump, triggering sudden selling pressure.
Leverage Flush:
Over-leveraged long positions get liquidated during minor pullbacks, dragging the price down faster.
RSI Oversold:
With RSI(6) dropping near 34.00, retail panic selling usually peaks here.
If it holds the 140 - 143 range, we might see a consolidation bounce back toward 156 - 162.
If it breaks below 140, the next major drop could drag it deeper.
Are you buying this dip, or waiting for a deeper correction? Let's discuss in the comments below! 👇
#SPCX #SpaceX
Many traders are confused why $SPCX pulled back from its recent high of 176.31 down to 147.83 (-5.79%) even when news and whale long positions look strong. Here is what is actually happening behind the charts:
"Buy the Rumor, Sell the News":
Big players and whales book profits immediately after a strong pump, triggering sudden selling pressure.
Leverage Flush:
Over-leveraged long positions get liquidated during minor pullbacks, dragging the price down faster.
RSI Oversold:
With RSI(6) dropping near 34.00, retail panic selling usually peaks here.
If it holds the 140 - 143 range, we might see a consolidation bounce back toward 156 - 162.
If it breaks below 140, the next major drop could drag it deeper.
Are you buying this dip, or waiting for a deeper correction? Let's discuss in the comments below! 👇
#SPCX #SpaceX