$IP Just now, it surged to 4.18 USDT and then quickly pulled back, leaving a clear long upper shadow on the candlestick. Combined with the abnormal increase in trading volume but inability to maintain the gains, this is definitely not a bullish initiation but a typical high-level distribution, and the bearish opportunity has already matured. 1. Shadow killing decline, initial reversal signal From the candlestick structure, the selling pressure above 4.10 USDT is astonishing. Shadow pattern:
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GateUser-6aefc1da
· 01-14 05:48
Overthinking, the long position ratio is 58, maybe it will keep pushing up.
$IP Just now, it surged to 4.18 USDT and then quickly pulled back, leaving a clear long upper shadow on the candlestick. Combined with the abnormal increase in trading volume but inability to maintain the gains, this is definitely not a bullish initiation but a typical high-level distribution, and the bearish opportunity has already matured. 1. Shadow killing decline, initial reversal signal From the candlestick structure, the selling pressure above 4.10 USDT is astonishing. Shadow pattern: