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The chart for $PLAY looks absolutely insane right now but if you look closer something is starting to feel off.
We just went up almost 500 percent in 30 days and today alone it’s up 94 percent. This vertical candle is massive but we are currently hitting a wall at the 0.206 level. When a coin goes parabolic like this the drop is usually just as fast.
I’m looking at the order book and it’s surprisingly balanced which tells me the big players might be starting to distribute their bags to retail buyers here. There is no real support until way down at 0.09 or 0.10 if this starts to pull back.
If you are chasing here you are basically gambling. I’d rather wait for a cooling off period or a solid retest of the previous breakout zone near 0.13 before even thinking about an entry.
Volume is huge at 585M but that's typical for a blow-off top scenario. Keep your eyes on the 4 hour candles.
Are you brave enough to long this or are you waiting for the inevitable dump?
#WCTCTradingChallengeShare8MUSDT