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Did $PIEVERSE just set a trap for the late buyers?
We just saw a massive god candle fly straight into the 0.5087 resistance level, but the immediate rejection is what’s catching my eye. Price is currently sitting at 0.4996 and it looks like the momentum is cooling off fast.
The volume is sitting at 20.36M, which is high for this pair, but that big red wick on the 1h chart tells me the sellers were waiting right at that psychological 50 cent mark. If we can't hold the 0.4820 area as support on this pullback, we might just bleed back into the old range.
I’m not touching a long here until I see a flat consolidation or a successful retest of the previous breakout point. Chasing this at the top is how accounts get blown.
Waiting to see if the bulls have a second wind or if this was just a quick pump and dump.
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