If my stop-loss gets swept, I’ll go out and grab a meal, and when I come back—$BTC is still hovering around 64200. In the end, ACE is up 103%. 0.1458? Is this market maker intentionally here to disgust people?
$BTC is down slightly today by 0.96%. The high is 64999 and the low is 64166. The range has tightened a lot, and volatility is clearly converging. This kind of market is probably really uncomfortable for anyone trading perps/contracts, so I choose to honestly hold spot.
The key point is this abnormal move in ACE—it’s up more than double. Trading volume is 29.3M, which is still relatively healthy. But the issue is—there’s absolutely no news backdrop supporting a pump like this. Nine times out of ten, the team is coordinating with the market maker to pump and dump. A friend of mine bought it yesterday expecting it to double, and today he got trapped in a loss. Chasing coins like this is basically handing money to the market maker. Don’t touch it.
Another thing worth mentioning is $PHB, which collapsed 69% to 0.015, with trading volume only 1.5M—typical liquidity trap behavior. A no-volume crash like this usually means the project has bad news, or a big player is dumping with zero regard for cost. Don’t catch a falling knife—if you think it’s cheap, there may still be a basement.
Overall, the market is weak today. BTC funding is still positive, which shows the bulls haven’t given up resistance, but the bears are also building up strength. If $BTC breaks below 64000, I may need to trim my position.
Did any of you step on any landmines?
#Write2Earn #Crypto
⚠️ Personal opinion only; not investment advice.
$BTC is down slightly today by 0.96%. The high is 64999 and the low is 64166. The range has tightened a lot, and volatility is clearly converging. This kind of market is probably really uncomfortable for anyone trading perps/contracts, so I choose to honestly hold spot.
The key point is this abnormal move in ACE—it’s up more than double. Trading volume is 29.3M, which is still relatively healthy. But the issue is—there’s absolutely no news backdrop supporting a pump like this. Nine times out of ten, the team is coordinating with the market maker to pump and dump. A friend of mine bought it yesterday expecting it to double, and today he got trapped in a loss. Chasing coins like this is basically handing money to the market maker. Don’t touch it.
Another thing worth mentioning is $PHB, which collapsed 69% to 0.015, with trading volume only 1.5M—typical liquidity trap behavior. A no-volume crash like this usually means the project has bad news, or a big player is dumping with zero regard for cost. Don’t catch a falling knife—if you think it’s cheap, there may still be a basement.
Overall, the market is weak today. BTC funding is still positive, which shows the bulls haven’t given up resistance, but the bears are also building up strength. If $BTC breaks below 64000, I may need to trim my position.
Did any of you step on any landmines?
#Write2Earn #Crypto
⚠️ Personal opinion only; not investment advice.