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Something feels off with $COMP right now and I can’t tell if it’s a trap.
We’ve seen a decent run from the 16.21 bottom, but that rejection at 30.25 was pretty aggressive. Right now it’s sitting at 22.91, and it feels like it’s teetering on a cliff.
The immediate support is around the 21.70 zone. If we lose that, the next stop could be a lot lower. On the other hand, the volume is dying down, which usually means a big move is cooking.
I’m looking for a solid bounce here to confirm buyers are still interested, otherwise this might just bleed back into the teens.
Is this a dip to buy or the start of a bigger dump? I’m staying light until we see a clearer direction.
#BitcoinETFOptionLimitQuadruples