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You see that massive wick on $ILV ?
Someone just got liquidated or a whale took profit way too fast. We hit a high of 6.08 and immediately crashed back down to the 4.30 area. That’s a lot of trapped buyers up there right now.
The good news is we are sitting right on top of previous resistance that should now act as support around 4.00 to 4.20. If we hold this level it’s just a healthy cooldown after a vertical move.
But if we slip below 3.90 again then this whole pump was just a giant bull trap. I’m waiting for the price to settle before doing anything aggressive.
Volume is crazy high so expect more volatility tonight. Be careful with high leverage here.
#GateSquareAprilPostingChallenge