When such a harsh haircut happens in the market, it immediately becomes clear who came for quick profit and who got stuck at the very top position. In the past few days, around $CYS there’s been way too much noise due to listings on Korean exchanges and futures with massive leverage. Everyone was going long amid the hype around decentralized computing and the InferBench platform, betting on endless growth.
But the crypto market doesn’t forgive blind euphoria. The moment the excitement dies down a bit, big players started dumping from the wallets of the late buyers—staging a powerful sell-off and shaving levered traders down to the very shirt. As a result, a steep bearish candle forced the crowd to digest the losses.
Right now, the most important thing is not the past green candles, but whether they can hold the key support levels. If we hold this range, there will be a chance for a local bounce and consolidation.
What do you think about the coin? Did you go long at the very peak, or are you waiting for the bottom to accumulate?
But the crypto market doesn’t forgive blind euphoria. The moment the excitement dies down a bit, big players started dumping from the wallets of the late buyers—staging a powerful sell-off and shaving levered traders down to the very shirt. As a result, a steep bearish candle forced the crowd to digest the losses.
Right now, the most important thing is not the past green candles, but whether they can hold the key support levels. If we hold this range, there will be a chance for a local bounce and consolidation.
What do you think about the coin? Did you go long at the very peak, or are you waiting for the bottom to accumulate?