💥BE CAREFUL OF THE TRIANGLE OF $NOT !
This is important so I'll repeat it for the n+1st time for everyone to remember.
👉Usually, F0 brothers who are new to technical analysis and trading will like to play triangle patterns like NOT. The lower edge forms a support zone and the upper edge is diagonal resistance, the price goes to the end of the triangle and then suddenly breaks up, you place a stoploss at the lower edge.
🤔However, this is just a suggestion for F0 brothers or brothers who are new to technical analysis, in fact, experienced traders all understand that the pump and dump ratio of this type of triangle pattern is 50/50. There are many cases where the price is compressed at the end of the triangle and then creates a red column to find a new bottom. If you don't believe it, you can check the ETHFI chart when the price broke through the $3 zone in early July, it's similar!
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Back to $NOT , I think the possibility of breaking through the 0.009x$ zone is quite high. The price has tested this zone for the 3rd time, and the more tests, the higher the risk of dumping. (See the picture below).
In addition, NOT is also being negatively affected by news about the owner of Tele Durov, causing yesterday's 1D candle to become a red candle with a thick body, quite ugly, combined with a strong increase in volume => Showing quite obvious selling pressure.
(Actually, NOT cannot be blamed, even TON, the main coin of the system, has dumped more than 20% in the past few days).
👉My final minus point with NOT is the valuation, I think the current capitalization of 1 billion USD is quite high for a memecoin, even though this is a top project of the TON ecosystem.
💥In short, altcoins show signs of a slight pump, but be careful with NOT. Personally, I will participate if NOT has a capitalization of less than $500M. Currently, the memecoin group I am holding includes BOME, MEME and SATS.As for PEOPLE, I have sold out, please refer to it!
