🐂 +4.2% Pump Detected on $LAB , is it worth to watch?
- Given the strong volume spike and bullish indicator stack, the short-term trend is bullish and I expect price to make another attempt toward 4.5000 and possibly 4.7370 if demand at 4.3684 holds.
- However, after this sharp pump, there’s an increased risk of a bull trap unless buyers show up again on a pullback. It’s crucial to wait for confirmation: look for a bullish pin bar, engulfing pattern, or a reversal signal on the 5m or 15m chart at 4.3684–4.4180 before longing.
- Example scenario: If price retraces to the 4.3684 demand and prints a strong rejection wick, or if you see a bullish structure form on lower timeframes (like higher lows and closes above 4.4180), enter a long with take profit at 4.5000, then 4.7370. Place your stop-loss below the recent swing low or the 4.1182 support to minimize risk.
- If price instead breaks down and closes below 4.3684 without any reversal, stand aside—do not long. If you see a fast move above 4.5612 (the most recent swing high) that quickly reverses, that could be a signal for a short scalp toward 4.3684.
- My bias will shift bearish if we see a 15m close below the 4.1182 support, especially on strong volume.
