After such a parabolic move, risk/reward is now heavily skewed against late buyers. I DO NOT suggest chasing
We’ve seen this movie before. Just look at $TRUMP as an example, buyers who chased above $70 ended up becoming long-term bag holders.
Technically,
Now price has gone vertical again.
My expectation: If
More importantly, the chart shows a major FVG below. A retracement into this imbalance could bring an extremely deep correction, potentially ~90%+ from the current ATH zone.
So if you’re thinking about LONGING
My suggestion: DON’T FOMO. Wait for confirmation, a meaningful retracement, or a strong structural setup.
At this Stage:
Risk = VERY HIGH
Reward = LIMITED
Capital preservation > FOMO
DYOR. This is technical analysis, not financial advice.
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Twitter: twitter.com/CryptoPatel
Telegram: t.me/OfficialCryptoPatel
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Telegram: t.me/OfficialCryptoPatel
Instagram: instagram.com/cryptopatel?utm_medium=copy_link
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.
