NOT - Bullish or Bearish

7 juin 2024

NOTUSDT surprised me, I wasn't even aware of its existence until recently and I am an active user on Telegram.

It was clear that from 0.0016 there was massive manipulation in the market and billions were pumped in the space of just a few days. What followed shortly after was a massive sell off which left a lot of people who FOMO'd in holding a bag at the 0.0029 level.

With this being said, a bounce occured after to 0.0026 and the price now seemingly descends in a channel. Either direction being a possibility. With the bag holders shaken by the sell-off, driving a massive selling pressure, and those anticipating one more pump, the price has tried several times to break the channel to no avail but has not yet broken down the 0.0020 level either.

My question is: Which way will it go? I personally am looking for an entry between 0.016- 0.0018, this would be an ideal zone to buy, but the price seems very settled at 0.0215 with many bullish flags appearing on the smaller time frames.
It's a confusing currency as it does not adhere to standard technical analysis. With the BTC.D still very high, with high alts like BNB now increasing, it seems the attention is not on low alts or meme coins at the moment.

Is this coin with billions in market cap likely to lose a billion in order to reach 0.0015? The 4H EMA suggests stagnation and a possible bearish reversal. How likely is this?

I am curious to hear your thoughts.

7 juin 2024

Note

Trade active, automatically bought at 0.0018