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Does $MET actually have the legs to go for a second round or is this just a dead cat bounce?
Looking at the daily, that massive wick up to 0.24 was a total liquidity grab and it’s been a bit of a grind since then. We found some decent footing around the 0.14 support level which is a good sign but the recovery feels kind of sluggish.
Right now we're sitting at 0.161 and struggling to break through this local resistance near 0.17. The volume is looking pretty thin compared to that big pump day, which tells me the big players might be sitting on the sidelines for now.
If we can hold this 0.155 area as support, I could see us slowly climbing back toward 0.19 to fill some of that wick. But if we lose 0.14, it’s probably going back to the 0.12 basement where it started.
I’m not jumping in just yet. I want to see a bit more strength and a solid daily close above 0.175 before I trust this move. What do you guys think? Accumulation or just a slow bleed?
#BitcoinETFOptionLimitQuadruples