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Well, well, well... if it isn't Bitcoin ruining the altcoin party right on schedule. 🙄
$TON was building great structural momentum, but BTC's sudden flash dip completely complicated the local outlook.
We are down -5.62%, currently trading at $1.596 on a massive liquidation surge of 12.03M volume. But don't panic, our macro game plan accounts for this.
We are officially entering the worst-case retest zone we mapped out yesterday.
All eyes are on the rock-solid $1.518 demand shelf to see if buyers step in to print a hard double-bottom floor. Let the weak hands flush.
$RE pumped more than 100% in a very short time, but the chart is starting to look very different now.
Price is struggling to reclaim the recent highs while sellers continue showing up around the $0.94-$0.98 area. After a move like this, failure to make new highs is usually the first warning sign that momentum is slowing down.
I’m also seeing a descending structure starting to form with lower highs and weaker follow-through on every bounce. If #RE starts losing support around the current area, I think the move toward $0.75 can happen quickly.
For me, the risk/reward now favors the downside. As long as $RE stays below the recent highs, I’m bearish and looking for a deeper correction from here.