Everex high-risk setup

Usually I do not enter the trade with token which has made 3-4x returns recently. But usually such type of pumps are accompanied with a sharp dump to 0.786 fib level or even lower. In the Everex case, the price has been growing during 2 days, made almost 6x in returns and since the 26th of March has been consolidating, making false breakouts and bouncing from the support laying on 20k sats area or 0.618 fib.

What is even more interesting, it that the volume during the markup was 5-6 times higher than the whole circulating supply of this token but is unrealistically low during the correction. This is clearly shown on the Daily tf:

Also, the 4H Bollinger Bands are narrowing and indicating a possible expansion in future.

The target of a possible insanity lays near the psychological level 100k sat. 4H close below the current support with volume invalidates the idea.

Disclaimer: the trade is highly risky, play accordingly.

Yorum:

The trade is still in "On" mode, watching closely the price action above 0.618fib. Let's see if Monday's market action brings some volatility.

Yorum:

Update for those who still in:

The price bounced from 0.768 fib zone And the first time since the 3rd of April is consolidating above the 4h MA20:

p.s. The only thing stopped me from selling my position is the absence of sell volumes and the appearance of green volume dildos, I do not think that the distribution already occurred.