source avatarTrader Steve

Share

$HYPE printed a new high at 88.16 on Sep 3, then gave back about 5% into 83.49. I'm long. But not here at 85 — my bid sits at 83.1-83.9. Today is the monthly unlock date, so the headline can shake the tape either way before that level even gets tested. Context: the push into 88.16 was one large impulse candle. The pullback stopped at 83.49 and price is grinding back into the mid-85s. That reads as a pause, not a break. Why 83.1-83.9: - the recent average-price line runs through it - the low of this pullback sits inside it - late-August resistance sits there, now flipped to support Three different kinds of evidence inside a 0.8 band. Alone, each one is thin. Stacked, the retrace has something to lean on. Entry 83.1-83.9. Target 87.2, just under the prior high — I'd rather exit into that supply than through it. Stop 81.8, below the origin of the candle that made the high. Lose it and that impulse never happened. Where I'm wrong: a clean break under 81.8. That is not a dip to average into. Risk: the unlock can wick either way, and if 83.1-83.9 never trades, there is no position. That is a fine outcome. Published by YTIlab · OMNISIGHT REPORT Not investment advice. All decisions and responsibility are your own.

No.0 picture
Disclaimer: The information on this page may have been obtained from third parties and does not necessarily reflect the views or opinions of KuCoin. This content is provided for general informational purposes only, without any representation or warranty of any kind, nor shall it be construed as financial or investment advice. KuCoin shall not be liable for any errors or omissions, or for any outcomes resulting from the use of this information. Investments in digital assets can be risky. Please carefully evaluate the risks of a product and your risk tolerance based on your own financial circumstances. For more information, please refer to our Terms of Use and Risk Disclosure.