$HOME This wave has spiked and retraced, currently up about 38%. Don't just focus on the candlesticks; keeping an eye on the liquidity is way more crucial: large and mid-sized orders are gobbling up, while retail traders are bailing.
This kind of pattern, where the big players are buying and the retail crowd is selling, doesn't scream peak to seasoned traders; it looks more like a shakeout. Right now, the price is fluctuating around 0.05, and as long as it doesn't drop below 0.047 (MA25 moving average), there's a high probability for a second wave. In terms of trading strategy, don't chase the highs; wait for it to pull back and stabilize before you scale in, as it offers much better value for your bucks.
This kind of pattern, where the big players are buying and the retail crowd is selling, doesn't scream peak to seasoned traders; it looks more like a shakeout. Right now, the price is fluctuating around 0.05, and as long as it doesn't drop below 0.047 (MA25 moving average), there's a high probability for a second wave. In terms of trading strategy, don't chase the highs; wait for it to pull back and stabilize before you scale in, as it offers much better value for your bucks.