The trend has gone fully vertical and parabolic, breaking through all previous resistance levels with strong momentum. This kind of move confirms strong bullish control, but it also increases risk significantly.
⚠️ EXTREME WARNING :
RSI is around 90, which is extremely overbought. At these levels, price is far above its average value and considered overheated. Historically, such conditions often lead to sharp pullbacks or consolidation phases.
📉 Selling Pressure Confirmed: The long upper wick near 31.44 (31.449 high) shows rejection. Buyers pushed price higher, but sellers stepped in aggressively, indicating profit-taking has already started.
Scenarios to watch:
Bullish continuation: If price breaks and holds above 31.449 with volume, the asset can re-enter price discovery, opening the door for new highs.
Bearish correction / healthy pullback: With RSI this stretched, a correction is very likely. Price may retrace to previous breakout zones around 20.00 – 24.00 to establish stronger support before any next leg up.
Strategy
Entering now is chasing momentum (FOMO). A smarter approach is waiting for:
RSI to cool down
A pullback to support
Or a confirmed breakout above the wick high
Trend = very bullish Risk = very high Patience = key