Maybe a long entry on AAA/USD if...
I want to see the sellers, including late panic selling whales particularly, get out and show up on the chart after their hack yesterday..
It would appear the protocol and community sentiment want to double down on the Arcadia Finance protocol. MEXC have removed any leveraged plays, so this opinion is really for spot traders or people who do have liquidity and considering whether they do add to their exposure to average any losses to their spot bags as a thesis if we see a recovery of the 50% drop in price overnight.
My three main caveats are to wait for one or both of these trendlines are broken, do not enter below the major long-term structural support/resistance (thick horizontal white line) and only do it with some decent volume coming in that is likely from a market maker. At least a 200% volume increase upon an already green 1H candle is my definition. Stay safe and happy trading all..and dodge the late dumpers as some of them may be whales!!!
A side note: High risk trade to rush. Stay out unless all criteria met. A big whale could easily dump the chart another 40% IMO.
It would appear the protocol and community sentiment want to double down on the Arcadia Finance protocol. MEXC have removed any leveraged plays, so this opinion is really for spot traders or people who do have liquidity and considering whether they do add to their exposure to average any losses to their spot bags as a thesis if we see a recovery of the 50% drop in price overnight.
My three main caveats are to wait for one or both of these trendlines are broken, do not enter below the major long-term structural support/resistance (thick horizontal white line) and only do it with some decent volume coming in that is likely from a market maker. At least a 200% volume increase upon an already green 1H candle is my definition. Stay safe and happy trading all..and dodge the late dumpers as some of them may be whales!!!
A side note: High risk trade to rush. Stay out unless all criteria met. A big whale could easily dump the chart another 40% IMO.
My Substack website provides my regular vlog establishing daily chart price trend bias for traders and investors to gain useful data.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
My Substack website provides my regular vlog establishing daily chart price trend bias for traders and investors to gain useful data.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.