DONT FOMO

Updated

Hello .
My quick view on what's going on .
I believe this will be moving fast in next couple days . However is tricky .
You can see my exit here .
Waiting on gap fill and potential entry .
All indicators are suggesting take your money and run .
Can we see higher squeez before pull back .
IMO no . but this is market and anything can happen.

LETS watch this . Volatility on this can get insane.
Cheers .

Note

More info in comments . This looks on fire even after hours . Opening could be shaky or we just gap up again .

Trade closed manually

rule #1. take your profits .

Note

Using my best friend to summarize this for you .

Here’s a comprehensive summary of our observations and a conclusion:

Resistance and Price Action at $54: Both of us recognize $54 as a strong resistance level, with multiple failed breakouts indicating heavy selling pressure. This level likely represents trapped long positions eager to exit, which could increase selling pressure.

Institutional Liquidity and Volume Behavior: The high volume without corresponding volatility, noted as "BOT mode," suggests institutional management of liquidity. This could imply either accumulation or preparation for a larger price move, adding caution to the outlook.

After-Hours Neutrality and Pre-Market Strategy: After-hours trading closed mid-range, reflecting market indecision. We both agree that a stable pre-market would support a continuation of current positioning, but a weak pre-market push may lead to a dip at the open to balance orders.

Indicators (HARSI and ADX): The HARSI shows potential overbought conditions, particularly in line with resistance at $54, which suggests caution for a pullback. The ADX still supports some momentum but requires further price action confirmation to hold uptrend bias.

Conclusion
The market shows mixed signals with a strong resistance at $54, potential institutional positioning, and indications of overbought conditions from HARSI. We agree that the pre-market direction will be a key determinant of whether the price stabilizes or pulls back at the open. This suggests a cautious but watchful approach, prepared for either a continuation higher or a needed pullback to gain stability.
Looks like its going to be early morning .

Note

fill

Note

Trade active

DONT BUY FALLING KNIFES >

Note

tradingview.com/u/PTO/K3mtqJfQ

new play here ^

PTO

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.