Mock Up Price Action for 
INJUSDT | Mid Term (1W)
- Watching and waiting for opportunity to re-enter short
- Price increasing rapidly, Volume decreasing
- RSI Weekly Highest it has ever been
- Fear/Greed Highest into Greed it has ever been
- Parallel Channel we've been in for over a year, finally reached the top
- INJ market cap highly inconsistent with TVL and transactions processed respective to comparable crypto projects
- Hype machine and good news and social sentiment ramping up, all ahead of a "Major Mainnet Upgrade for coming weeks in DEC" to which in my experience, when that happens, hype is over, rumor being bought is done, sell the news time
- Volume spiked in line with Coinglass open interest going high, yet top traders and long short ratios and positions starting to flip more short
- Waiting for last bit of price manipulation by whales to break out of top of channel, stop/liquidity hunting, bull trap style, before I enter short
INJUSDT | Mid Term (1W)- Watching and waiting for opportunity to re-enter short
- Price increasing rapidly, Volume decreasing
- RSI Weekly Highest it has ever been
- Fear/Greed Highest into Greed it has ever been
- Parallel Channel we've been in for over a year, finally reached the top
- INJ market cap highly inconsistent with TVL and transactions processed respective to comparable crypto projects
- Hype machine and good news and social sentiment ramping up, all ahead of a "Major Mainnet Upgrade for coming weeks in DEC" to which in my experience, when that happens, hype is over, rumor being bought is done, sell the news time
- Volume spiked in line with Coinglass open interest going high, yet top traders and long short ratios and positions starting to flip more short
- Waiting for last bit of price manipulation by whales to break out of top of channel, stop/liquidity hunting, bull trap style, before I enter short
Note
NOTE: Something I like to do to give myself some valuable perspective when looking to invest/trade after I've mocked up HTF price action and movements with fibs, parallel channels, and fractals, is to then inverse the chart (Keyboard Shortcut ALT + I), and zoom out...
Note
Perfect Conditions for a Bull TrapNote
Pretty hard rejection at the upper channel line. Am expecting some volatility here, and stop/liquidity hunting both ways.Note
Wait, this coin that's pumped for the entire year and went 3000%+ up isn't going to keep running still?Shocker.
Note
Yeah.. This is my number one pick for a short play.
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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.