$PUMPBTC
This bloody overbought spike below the moving averages logic-wise means just one thing
the buying juice has completely run dry, and the main lot are prepping for a second drop to smash straight through the previous low
A classic liquidity trap, textbook stuff for a proper bearish setup coming our way
The thing that completely bickers away any idea of a rally is the sheer size of those long wicks on the bottom candles
$PUMPBTC
That sudden crash shows smart money bailing out and a right proper liquidation of positions
That quick bounce after wasn't driven by any real buying power, mate—it was just an automated short squeeze and a bunch of retail traders rushing in out of pure FOMO
The price is now banging its head against the top of the 200 EMA, which has turned into a proper brick wall of resistance, right as the StochRSI hits absolute max peak
$PUMPBTC
#pumpbtc #Market_Update
This bloody overbought spike below the moving averages logic-wise means just one thing
the buying juice has completely run dry, and the main lot are prepping for a second drop to smash straight through the previous low
A classic liquidity trap, textbook stuff for a proper bearish setup coming our way
The thing that completely bickers away any idea of a rally is the sheer size of those long wicks on the bottom candles
$PUMPBTC
That sudden crash shows smart money bailing out and a right proper liquidation of positions
That quick bounce after wasn't driven by any real buying power, mate—it was just an automated short squeeze and a bunch of retail traders rushing in out of pure FOMO
The price is now banging its head against the top of the 200 EMA, which has turned into a proper brick wall of resistance, right as the StochRSI hits absolute max peak
$PUMPBTC
#pumpbtc #Market_Update
