⚠️ Attention - $RAVE
The price continues to rise… but since the day before yesterday, the volume continues to decrease.
This raises a warning about the exhaustion of the movement.
This may mean that there are fewer and fewer new entrants.
This indicates that the market is becoming more cautious, the trapped liquidity has already been absorbed, and the whales will have to take profits after siphoning off the funds from the entrants.
Also, the majority of pump and dump crashes often start with a daily candle with a long wick.
When the price fails to close near the end of the wick, it’s a strong reversal signal.
And that’s exactly what we are observing right now.
There are still a few minutes before the daily close,
and this large wick is still forming.
Another point: a violent rejection has already occurred in the movement.
This gives us several confluences:
> Price rising + volume decreasing
> Long daily wick
> violent drop
so, potential reversal signals
It’s a risky setup, but I have opened a short position.
If the price touches a new ATH, the setup will no longer be valid.
Do your own research.
Manage your risk.
The price continues to rise… but since the day before yesterday, the volume continues to decrease.
This raises a warning about the exhaustion of the movement.
This may mean that there are fewer and fewer new entrants.
This indicates that the market is becoming more cautious, the trapped liquidity has already been absorbed, and the whales will have to take profits after siphoning off the funds from the entrants.
Also, the majority of pump and dump crashes often start with a daily candle with a long wick.
When the price fails to close near the end of the wick, it’s a strong reversal signal.
And that’s exactly what we are observing right now.
There are still a few minutes before the daily close,
and this large wick is still forming.
Another point: a violent rejection has already occurred in the movement.
This gives us several confluences:
> Price rising + volume decreasing
> Long daily wick
> violent drop
so, potential reversal signals
It’s a risky setup, but I have opened a short position.
If the price touches a new ATH, the setup will no longer be valid.
Do your own research.
Manage your risk.