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Something very strange is happening with this chart and most people are missing the signal.
$RAVE has gone absolutely vertical in the last few days, jumping from pennies to over 2.00. That kind of volume is insane for an early stage project, but look at that wick at 2.22. It got rejected fast, which tells me the big players are starting to take profits.
Right now it’s hovering around 2.03. If it can’t hold the 1.85 level as support, we could see a massive "retracement" back toward the 1.40 area. These parabolic moves are fun until they aren't, and the RSI has to be screaming overbought by now.
I'm watching for a consolidation phase here. If it stays above 1.90 for a few candles, it might have one more leg up left in it. But honestly, the risk to reward at these levels is getting sketchy.
Be careful chasing the green candles. I'm waiting for a proper dip before even thinking about a re-entry. Always better to miss a trade than to baghold a top.
#GateSquareAprilPostingChallenge