I was almost certain this $DOLO move was a fakeout.
We spent so much time dragging along the bottom at 0.037, and then it just ignited. We hit 0.0453, but now it’s hitting a wall. If you look at the last couple of 1h candles, they’re struggling to close above that 0.0445 area. Volume is still decent, so I don't think the trend is dead, but it definitely needs to cool off. I’m watching for a retest of 0.042 to see if the bulls are actually going to hold the line or if this was just a quick squeeze to hunt liquidations. If we can consolidate here and flip 0.045, the next leg up could be pretty aggressive.
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I was almost certain this $DOLO move was a fakeout.
We spent so much time dragging along the bottom at 0.037, and then it just ignited. We hit 0.0453, but now it’s hitting a wall. If you look at the last couple of 1h candles, they’re struggling to close above that 0.0445 area.
Volume is still decent, so I don't think the trend is dead, but it definitely needs to cool off. I’m watching for a retest of 0.042 to see if the bulls are actually going to hold the line or if this was just a quick squeeze to hunt liquidations.
If we can consolidate here and flip 0.045, the next leg up could be pretty aggressive.
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