If you're still chasing every alt breakout at the highs without waiting for a retest, stop now.
This is how traders blow accounts. They sit through months of sideways action then FOMO the expansion and get dumped on the first pullback.
$TAKE just broke out of a long accumulation range with momentum expanding fast. Some traders see a clean structure and the start of a larger move. Others think it is a liquidity grab that fades back into the range. I am on the side that this looks valid if the $0.18,$0.20 zone holds as support.
Hold that area and the next levels sit at $0.25, $0.30 and $0.35. Lose it and the breakout was noise. Volatility is still extreme so confirmation and position sizing matter more than the candle that already printed, especially while $BTC stays choppy.
Does this retest hold or do we get the classic fakeout?
#TAKE #Altcoins #TechnicalAnalysis
This is how traders blow accounts. They sit through months of sideways action then FOMO the expansion and get dumped on the first pullback.
$TAKE just broke out of a long accumulation range with momentum expanding fast. Some traders see a clean structure and the start of a larger move. Others think it is a liquidity grab that fades back into the range. I am on the side that this looks valid if the $0.18,$0.20 zone holds as support.
Hold that area and the next levels sit at $0.25, $0.30 and $0.35. Lose it and the breakout was noise. Volatility is still extreme so confirmation and position sizing matter more than the candle that already printed, especially while $BTC stays choppy.
Does this retest hold or do we get the classic fakeout?
#TAKE #Altcoins #TechnicalAnalysis
