60% retrace? Maybe?
$aster
Early 2023 [Jan times], right after FTX had imploded and crypto had bottomed
We saw a massive bounce across the board on altcoins and during this period we had strong outperformers
I remember SAND running and then 'rotations' took place, where people chased similar things like MANA etc.
Both of them pumped huge because they shared the same categorical leader - "Metaverse"
But what would happen is, SAND would pump, then MANA would pump, then SAND would pump again etc.
If I was CZ right now, I'd be baiting people into taking directional shorts on Aster [especially after a huge +100% day]
How would you do that?
You put in a half-decent retrace [it can happen whenever], everyone gets afraid, calls for the top and consequently shorts start to pile in
At this point, you'll notice price isn't breaking down any further and there's some clear support with some H4 candles going sideways
That's the "long setup" where bottom shorts are getting trapped and even then, all "top sellers" will get blown the fuck out with one big v-reversal
Look at the MYX chart, this is exactly what took place ^
In the mean time, you'll also see an obvious rotation to AVNT - similar to SAND/MANA from 2023
Ultimately Aster will continue to go up, but you have to understand and anticipate psychological games and tricks
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