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$SYN 24-hour surge of 22%, those who bought at 0.238 are now waking up laughing, but is 0.3368 the iron top? The spike that just pulled back is frightening me, so I quickly moved my take profit from 0.35 to 0.33.
Bullish reasons: 1. Funds are strongly pushing, a 500 million trading volume isn't something retail investors can create, clearly big players are accumulating; 2. Weekly chart breaks through the downtrend line, if the technicals retrace to 0.28 and stabilize, the target directly hits 0.38; 3. Sentiment-wise, FOMO hasn't peaked yet, the more people curse in the square, the safer it is.
Bearish reasons: 1. The 0.3368 level is a previous dense trapped zone, if it can't break through overnight, it will likely retrace to 0.28; 2. Although the trading volume is large, the price hasn't hit a new high, a typical volume expansion with stagnation, the market maker might be offloading; 3. The overall market is unstable, if BTC drops sharply, altcoins will fall off a cliff.
Trading suggestion: Those willing to gamble can enter lightly around 0.31, stop loss at 0.29, first take profit at 0.33, add positions if it breaks through. The timid wait for a retrace to 0.28, if it drops below 0.27, just run. Remember, in this kind of market, profits come from emotions, not the big picture.
If it can rise, subtract 1; if it crashes, subtract 2.