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Look at this chart and tell me you don’t feel a little sick for the people who bought the top.
$RAVE has had one of the most brutal retracements I’ve seen lately. We went from a vertical moon mission hitting $28.30 all the way back down to $0.8761. That red candle is basically a straight line down.
Right now, I’m trying to find some sort of floor. We are hovering just above the $0.8495 low of the day. The volume is still high at $70M, which means there is a lot of hand-changing happening here, but the momentum is clearly struggling.
If we can’t hold $0.85, there is almost no historical support until we get back to that $0.22 range where this whole thing started. On the flip side, any bounce from here has to clear $1.50 just to look even slightly healthy again.
It’s an early-stage project with "extreme fluctuations" as the warning says, so don't be a hero. I’m just watching for a double bottom or some actual consolidation before even thinking about a move.
Did anyone actually bank on that $28 spike or are we all just watching the wreckage?
#WCTCTradingKingPK