Wen Crash? Whales Puking
This whole move up has been an epic short squeeze. You have to respect the price action and uptrend, extremely powerful and many traders have been burnt, myself included. I still remain interested in a short so I am watching this on the 5-15 minute time frame.
So where is all the buying pressure coming from? Definitely not from the insiders, whales have been puking this thing out for weeks now and this euphoric rally is reaching a climax.
We do have a rising wedge and I would not be surprised to see a sharp fall, but wait for confirmation if you plan to go short. We need a change in market structure. Don’t fomo into a short position, respect the trend and inch into your short when it’s time.
Not financial advice.
So where is all the buying pressure coming from? Definitely not from the insiders, whales have been puking this thing out for weeks now and this euphoric rally is reaching a climax.
We do have a rising wedge and I would not be surprised to see a sharp fall, but wait for confirmation if you plan to go short. We need a change in market structure. Don’t fomo into a short position, respect the trend and inch into your short when it’s time.
Not financial advice.
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