DISTRIBUTION FRACTAL OR REACCUMULATION?
I saw this types of distribution already, on the first glance it looks like a ascending triangle, but when you look closely you can see divergence building on the RSI.
If you are about to enter short here, you gotta know that sentiment is still pretty bullish, but on the other side, that gives me more confidence in shorting PNT right now.
ETH 2.0 event just acme in couple of days ago, so everything smells of "BUY THE RUMOR, SELL THE NEWS" kind of environment.
You can be a buyer here as well, but that's on you. If you want to bet on the long side, risk window is to great for me to even think about longing PNT here after 1500+% pump already. Binance traders would be surprised if price dives back under the current lows, because they dont see a full chart and price movement.
EDO was rebranded to PNT, but move is already too big for me to consider buying here. Great short opportunity with SL above ascending triangle (I expect stop hunt as well, but w'ell see). You can target .382 area as a safe target if this is the top.
If you profit out of this idea, you can consider donation as a thank you.
Be safe, and don't bet the house on this. Its a risky trade after all.
If you are about to enter short here, you gotta know that sentiment is still pretty bullish, but on the other side, that gives me more confidence in shorting PNT right now.
ETH 2.0 event just acme in couple of days ago, so everything smells of "BUY THE RUMOR, SELL THE NEWS" kind of environment.
You can be a buyer here as well, but that's on you. If you want to bet on the long side, risk window is to great for me to even think about longing PNT here after 1500+% pump already. Binance traders would be surprised if price dives back under the current lows, because they dont see a full chart and price movement.
EDO was rebranded to PNT, but move is already too big for me to consider buying here. Great short opportunity with SL above ascending triangle (I expect stop hunt as well, but w'ell see). You can target .382 area as a safe target if this is the top.
If you profit out of this idea, you can consider donation as a thank you.
Be safe, and don't bet the house on this. Its a risky trade after all.
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