Low volume!
I think this pump was created by algos so they can create the illusion we will go up so noobs will buy so liquidity will be provided for the algos to sell.
Invalidation of my thought will be if we go above the upper trend line of this channel.
We also see bearish divergence on the 4 hour chart ( RSI 5 ).
My first target is the bottom trendline of the channel.
Second target 5.8k
Oh I also think those wicks above resistance are just stop hunts.
I think this pump was created by algos so they can create the illusion we will go up so noobs will buy so liquidity will be provided for the algos to sell.
Invalidation of my thought will be if we go above the upper trend line of this channel.
We also see bearish divergence on the 4 hour chart ( RSI 5 ).
My first target is the bottom trendline of the channel.
Second target 5.8k
Oh I also think those wicks above resistance are just stop hunts.