Fake pump — short trade !!!
$JCT made a pretty big move, but look at what happened after the pump. The price couldn't hold its higher levels and started moving down again. For me, this move is looking more like a fake pump than a proper bullish breakout.
I think buyers could get attracted by these green candles, expecting another rally, but if sellers step in again, the price could take another sharp move downward.
The important thing here is that $JCT has already given back a big part of its pump. Buyers need to show some real strength; otherwise, the current recovery could turn into another opportunity for sellers.
$0.0028 is the downside level I'm watching.
If selling pressure continues, $JCT could revisit that area and possibly take more liquidity from long traders sitting below.
For now, I'm looking at this as a possible short setup rather than chasing the recent pump.
$JCT made a pretty big move, but look at what happened after the pump. The price couldn't hold its higher levels and started moving down again. For me, this move is looking more like a fake pump than a proper bullish breakout.
I think buyers could get attracted by these green candles, expecting another rally, but if sellers step in again, the price could take another sharp move downward.
The important thing here is that $JCT has already given back a big part of its pump. Buyers need to show some real strength; otherwise, the current recovery could turn into another opportunity for sellers.
$0.0028 is the downside level I'm watching.
If selling pressure continues, $JCT could revisit that area and possibly take more liquidity from long traders sitting below.
For now, I'm looking at this as a possible short setup rather than chasing the recent pump.
