FLARE - PROFIT TAKEN AFTER 271% SINCE LAUNCHPOOL

Call me paper hand but I sold my $FLAREUSDT here at 271% after the Binance Launchpool and here is why.

Since the launchpool, price has surge by 271% psychologically, at this point 80% of airdreppers have taken profit. Secondly a previous support just became a resistance after that stong rejection projecting a weekly wick or call it inverse hammer followed by what i presume to be a 3 black crow with a strong hidden divergence on the relative strength index coulped with huge drop in volume. Also, prior to this surge there as no strong divergence on the weekly RSI which again proves that price was pumped due to the injection of new captiaal and with the help of the Binance Launchpool therefore I believe price should go bak down for proper distribution (Wyckoff) forming the wave 4 and wave 5 (Elliot Wave) while liquidity is grabbed in the process only then I will be re-entering FLARE.

Would have love to short it from here but the risk reward is disgusting!

OTHER ANALYSIS

Comment:

keeping an eye on FLRUSDT the reckoning should be here soon