0.8723 Do you dare to believe this price?

24 hours from 0.4 soaring to 0.98 then crashing back to 0.87, $EVAA this wave is a typical pump and dump script.
The volume spike at dawn swallowed the previous four bullish candles' bodies,
RSI dropped straight from the overbought zone at 86 to 62,
MACD fast and slow lines formed a death cross at high levels.
Don’t be fooled by the 113% increase;
the 30-minute K-line chart of this coin already shows a double top,
the right top at 0.976 is clearly lower than the left top at 0.986,
the neckline at 0.85, if broken,
the next support is at least 0.62.
Volume is the key evidence:
24-hour trading volume is 270 million dollars,
but the price fell from 0.98 to 0.87 with increased volume,
indicating the main players have already distributed their chips in the 0.9-0.98 range.
The Bollinger Bands upper band shifted from contraction to opening downward,
the middle band at 0.78 is the last short-term defense line.
Now chasing longs is equivalent to catching a falling knife,
but be cautious of a rebound from the whales when shorting.
Trading suggestion:
Light short positions at 0.87-0.88,
stop loss at 0.92 (breaks the previous high structure),
first take profit at 0.78,
second take profit at 0.62.
If it falls below 0.82, add to short positions,
keep position size within 5% of total funds.
This coin’s volatility is brutal,
pay close attention to the 15-minute EMA12 death cross with EMA26 signal on the contract.
I’ve learned my lesson from buying above 0.5 to 0.9 then crashing back to 0.3,
these coins that make new highs and then pull back,
what technical repair can institutions give you?
They never give you time to draw support levels when dumping.
A side note:
I placed a real position short at 0.875,
once filled, I’ll post a screenshot in the Tui Bei Tu.
If you want to follow, watch the 0.86 lower shadow for defense.