$SUI 4H Update: Bounce First, Then a Trap? 👀
SUI has been bleeding inside a falling channel for a while now, and price is sitting around 0.99. But look at where it's sitting: right on top of a strong support zone (~0.93–0.97). Buyers have defended this area before, and it's also where the liquidity got swept ($) before the last bounce.
Here's how I'm seeing it 👇
📈 Short-term: A bounce from support is likely. The market already printed an MSS (Market Structure Shift) earlier, so relief moves are on the table. I expect price to climb, break out of the top of the channel and push toward the 1.14 liquidity level ($).
⚠️ The catch: Above 1.14 and up into the 1.20–1.25 resistance zone, I smell a Bull Trap. Everyone gets excited about the breakout, late buyers jump in, and then the market takes that liquidity and turns around.
📉 If the trap plays out: A sharp rejection from resistance can send SUI back down, with ~0.85 as the next target. If support breaks, that's the zone to watch.
🎯 Plan:
• Don't chase the pump near resistance
• Watch how price reacts at 1.14 and 1.20+
• Wait for confirmation before any short, no guessing
Not every breakout is a real breakout. Patience pays. 😉
⚠️ N
ot financial advice. Do your own research and manage your risk.
#SUI #SUIUSDT #Binance #CryptoTrading #TechnicalAnalysis #BullTrap #BinanceSquare
SUI has been bleeding inside a falling channel for a while now, and price is sitting around 0.99. But look at where it's sitting: right on top of a strong support zone (~0.93–0.97). Buyers have defended this area before, and it's also where the liquidity got swept ($) before the last bounce.
Here's how I'm seeing it 👇
📈 Short-term: A bounce from support is likely. The market already printed an MSS (Market Structure Shift) earlier, so relief moves are on the table. I expect price to climb, break out of the top of the channel and push toward the 1.14 liquidity level ($).
⚠️ The catch: Above 1.14 and up into the 1.20–1.25 resistance zone, I smell a Bull Trap. Everyone gets excited about the breakout, late buyers jump in, and then the market takes that liquidity and turns around.
📉 If the trap plays out: A sharp rejection from resistance can send SUI back down, with ~0.85 as the next target. If support breaks, that's the zone to watch.
🎯 Plan:
• Don't chase the pump near resistance
• Watch how price reacts at 1.14 and 1.20+
• Wait for confirmation before any short, no guessing
Not every breakout is a real breakout. Patience pays. 😉
⚠️ N
ot financial advice. Do your own research and manage your risk.
#SUI #SUIUSDT #Binance #CryptoTrading #TechnicalAnalysis #BullTrap #BinanceSquare