📉 AUCTIONUSDT.P: Bull Trap in Progress? 🚨

🚀 The price surged from 37.284 to 45.833 in under 24 hours (+22.9%), hitting a local high of 46.350. But is this rally too good to be true? Let’s break it down:

⚠️ Key Warning Signs:

🔸 Overbought RSI (78.844): A strong signal that a pullback is near.

🔸 Weak Price Action Despite High Volume: Big volume spike (6.13M at 17:30), yet the last candle showed only a 0.79% gain. Buyers are losing momentum.

🔸 Major Resistance at 46.350: Price struggling to break higher. A rejection here could lead to a sharp drop.

🚨 Confirmation of a Bull Trap:

✅ Break below 44.500 → Trap is likely.

✅ Drop under 42.500 → Stronger sell-off ahead.

✅ Failure to reclaim 46.350 → Bears take control.

📉 Potential Downside Targets:

📌 42.500 (First Support)

📌 40.500 (Stronger Support)

📌 38.500 (Severe Drop Zone)

Final Verdict:

If price fails to hold 44.500, the bull trap is confirmed. A further breakdown under 42.500 could accelerate selling. Stay cautious! 🚀📉

#Crypto #Trading #BullTrap #MarketAnalysis #acution $AUCTION