Advice from experience: don't always rely solely on the RSI. There are also other data points that can give you a specific idea of how much the price has left to turn around.

We all strive to improve. We research, learn, analyze our past mistakes...etc.

But what happened today I do not understand. At all.

For about 12-14 hours, a significant amount of cryptocurrencies, among which some very important ones, like ISO (XLM, XRP, IOTA, HBAR, ALGO), TROY... anyway, check today's chart on a 1H timeframe, have been extremely overbought.

In the case of #TROY and Stellar, #XLM , they were for more than two hours with the RSI above 92% and yet, not only did they not retrace, but they maintained the bullish momentum!

Serious traders will know that this is very strange.

Such a high level in the RSI is an almost certain signal of correction, almost 100% certain, which is why we use it as a cue for a short entry.

I went short 12 hours ago on Stellar, Troy, and Hedera. They have not retraced!

I am not worried, as I use very little leverage, 3X, but the truth is I decided to publish this article to hear opinions. Or better, to start a debate.

What is my idea at this hour?:

We are facing a bull trap (market artificially pushed up with manipulation, in the face of a strong drop): by generating such a price increase, they make the novices, the natural bulls, the emotional ones... the retail investors, suddenly enter massively long... bam! the claw. Strong, sudden, and simultaneous mass selling causes a crash.

Come on, we all fell like this when we were novices.

There is a news article published around 2 am that there was a buy order for Stellar of over $7 million... I believe this caused the momentum in Stellar.

What if they suddenly sell everything in a single order?

Regards. I hope for opinions - analysis.