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tradebitcoin0
The chart for xQQQ is currently painting a textbook definition of a "bear market rally" or a bull trap. After a violent plunge from the $XQQQ 755 peak down to a local floor of $640, the asset has printed a modest +2.26% green bounce to $660.84.
The technicals are still heavily bearish. The price is completely suppressed below the 5-day ($673), 10-day ($688), and 20-day ($701) moving averages. These are not just resistance levels; they are a descending ceiling pressing down on the price.
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