M Coin's Shocking Movement! RSI 93 Death Signal Envelops Bull Market Graveyard
In the past two days, M Coin has truly been in the spotlight, the 4-hour chart is spine-chilling! The price is bouncing wildly against the upper Bollinger Band at 0.3984. And what does it mean that the RSI1 has soared to 92.99? It’s a level of overbuying not seen in the 15 years since Bitcoin's inception!
Let’s break down the candlestick chart:
The MA7 moving average at 0.3103 seems to hold the price steady like an old dog, but the single-day volatility has reached 2.57%, showcasing its ferocity.
The RSI's three lines are breaking through the sky, even crazier than before the LUNA death spiral in 2021.
The MACD red bars are quietly diminishing, yet the price is pulling strongly to 0.3984, a clear case of volume-price divergence.
The KDJ's J value at 83.73 is stalling at a high point, resembling a rooster being choked!
Now let’s take a look at those brothers shouting "breakthrough 0.4, chase the rise"; could it be they haven't seen the mountains of short positions piling up between 0.3657-0.3984? This situation is eerily reminiscent of the night before last year's FTX collapse, where the big players are sharpening their knives waiting for retail investors to take over!
A buying frenzy in overbuying is bound to see bloodshed! At the current price, absolutely do not chase after more! Early evangelists in the crypto circle, follow me for bull market strategies on holding coins, rolling strategies, and selecting hundred-fold coins.
