No one believed in it when it first appeared. Everyone sold it at $1. At $2, the funding was already negative. Everyone laughed at it when it fell to $0.2.
🔥 But it's back again to prove to us that this isn't the end. Or is this the final chord? Let's take a closer look:
In fact, FARTCOIN has been one of my favorite tokens for trading over the past two months. People are used to shorting memes and other junk when they grow so much, and that's why they continue to grow.
➡️ However, FARTCOIN has been experiencing a divergence in purchase volumes since the beginning of June. Fewer and fewer people are willing to buy at this price.
➡️ There is also a divergence in Money Flow in liquidity inflows. Positions continue to close, although new liquidity also continues to come in. The indicator is currently in the neutral zone.
➡️ Yesterday's drop formed a GAP at $1.63 - $1.41. And as we know, 99% of GAPs close sooner or later.
➡️ What about liquidity? Right now, there is more of it at the top, as always. With every correction, everyone starts shorting memes first. Therefore, liquidity accumulates quickly at the top.
➡️ However, the price moves from liquidity to liquidity, which is why FARTCOIN continues to grow. But in the current momentum, it was one of the first to start moving, and I think it's time for it to cool down a bit.
📌 Conclusion:
Technically, everything points to a correction. Logically, too. We can close the GAP at the top and start to decline, or it will remain hanging for some time if Bitcoin pulls the market down again today.
However, I am currently only considering shorts in FARTCOIN. It has been growing too long and too strongly, and it is time for it to cool down and gather strength for the next momentum in October (if there is one).
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🔥 But it's back again to prove to us that this isn't the end. Or is this the final chord? Let's take a closer look:
In fact, FARTCOIN has been one of my favorite tokens for trading over the past two months. People are used to shorting memes and other junk when they grow so much, and that's why they continue to grow.
➡️ However, FARTCOIN has been experiencing a divergence in purchase volumes since the beginning of June. Fewer and fewer people are willing to buy at this price.
➡️ There is also a divergence in Money Flow in liquidity inflows. Positions continue to close, although new liquidity also continues to come in. The indicator is currently in the neutral zone.
➡️ Yesterday's drop formed a GAP at $1.63 - $1.41. And as we know, 99% of GAPs close sooner or later.
➡️ What about liquidity? Right now, there is more of it at the top, as always. With every correction, everyone starts shorting memes first. Therefore, liquidity accumulates quickly at the top.
➡️ However, the price moves from liquidity to liquidity, which is why FARTCOIN continues to grow. But in the current momentum, it was one of the first to start moving, and I think it's time for it to cool down a bit.
📌 Conclusion:
Technically, everything points to a correction. Logically, too. We can close the GAP at the top and start to decline, or it will remain hanging for some time if Bitcoin pulls the market down again today.
However, I am currently only considering shorts in FARTCOIN. It has been growing too long and too strongly, and it is time for it to cool down and gather strength for the next momentum in October (if there is one).
Subscribe to stay up to date with the latest market ideas! ⚡️
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.