$龙虾 downtrend completed, and can we bottom-fish?
The answer is no; because the previous high during the earlier rally was 0.31, and yesterday’s low was 0.031. It’s also just an oversold rebound. Another reason for the rebound is that it has washed out some of the chips from large orders that were chasing shorts!
Right now, most of the main on-chain players’ coins have almost been sold off. But the smart money has mostly gone out, and retail investors’ chips make up the majority. As for longs, the liquidation pressure from long positions is still very strong in the short term. And we’re still not at the point to bottom-fish during this downtrend!!
The outlook for Chinese coins is indeed quite promising, but what’s currently missing are concrete project catalysts and improvements in on-chain capital.
For informational purposes only and does not constitute investment advice $MOVR $SOL
#NEAR跌至约4.70美元较日高跌逾14% #亚马逊拟售80亿美元英伟达芯片
The answer is no; because the previous high during the earlier rally was 0.31, and yesterday’s low was 0.031. It’s also just an oversold rebound. Another reason for the rebound is that it has washed out some of the chips from large orders that were chasing shorts!
Right now, most of the main on-chain players’ coins have almost been sold off. But the smart money has mostly gone out, and retail investors’ chips make up the majority. As for longs, the liquidation pressure from long positions is still very strong in the short term. And we’re still not at the point to bottom-fish during this downtrend!!
The outlook for Chinese coins is indeed quite promising, but what’s currently missing are concrete project catalysts and improvements in on-chain capital.
For informational purposes only and does not constitute investment advice $MOVR $SOL
#NEAR跌至约4.70美元较日高跌逾14% #亚马逊拟售80亿美元英伟达芯片
