Mock Up Price Action for INJ | Mid Term (1W)

20 Des 2023

Mock Up Price Action for INJUSDT | Mid Term (1W)
- Watching and waiting for opportunity to re-enter short
- Price increasing rapidly, Volume decreasing
- RSI Weekly Highest it has ever been
- Fear/Greed Highest into Greed it has ever been
- Parallel Channel we've been in for over a year, finally reached the top
- INJ market cap highly inconsistent with TVL and transactions processed respective to comparable crypto projects
- Hype machine and good news and social sentiment ramping up, all ahead of a "Major Mainnet Upgrade for coming weeks in DEC" to which in my experience, when that happens, hype is over, rumor being bought is done, sell the news time
- Volume spiked in line with Coinglass open interest going high, yet top traders and long short ratios and positions starting to flip more short
- Waiting for last bit of price manipulation by whales to break out of top of channel, stop/liquidity hunting, bull trap style, before I enter short

20 Des 2023

Catatan

NOTE: Something I like to do to give myself some valuable perspective when looking to invest/trade after I've mocked up HTF price action and movements with fibs, parallel channels, and fractals, is to then inverse the chart (Keyboard Shortcut ALT + I), and zoom out...

20 Des 2023

Catatan

Perfect Conditions for a Bull Trap

20 Des 2023

Catatan

Pretty hard rejection at the upper channel line. Am expecting some volatility here, and stop/liquidity hunting both ways.

21 Des 2023

Catatan

Wait, this coin that's pumped for the entire year and went 3000%+ up isn't going to keep running still?

Shocker.

22 Des 2023

Catatan

Yeah.. This is my number one pick for a short play.