$MAGIC After such a big plunge, what is it still consolidating for?
According to this trend, wouldn’t today’s gainers turn into tomorrow’s losers? This round of distribution is quite fierce. It didn’t break through the previous high, and instead started a major plunge directly, forming a short-term waterfall. At first, Lao Qi thought the sideways movement at the high was building momentum for an upward push, but unexpectedly it went into a big dive, and the splash was pretty huge too.
Now it’s fluctuating around 0.105 again, and there is no major capital influx on-chain. At the moment, it may also be the dealer’s bull trap, creating the illusion of capital inflow and increasing retail investors’ enthusiasm for bottom fishing.
Lao Qi is relatively bearish right now. Altcoins are just like this: they come fast and go fast. At this price, no big players are stepping in to catch this hot potato. The current sideways movement is not a stop in the decline at all, but a continuation pattern in a downtrend. Once it fully breaks through the support level, further decline is inevitable. You can try a small short position. Lao Qi will also keep a close eye on the market; if something looks wrong, exit immediately and don’t get attached.
The public square has a delay. If you want to keep up with market changes in real time and adjust your risk control plan, come to Lao Qi’s chat room.#Ledger暂停CryptoBilis销售 $LUMIA
#Telegram预计推出Gram钱包 $AGT
According to this trend, wouldn’t today’s gainers turn into tomorrow’s losers? This round of distribution is quite fierce. It didn’t break through the previous high, and instead started a major plunge directly, forming a short-term waterfall. At first, Lao Qi thought the sideways movement at the high was building momentum for an upward push, but unexpectedly it went into a big dive, and the splash was pretty huge too.
Now it’s fluctuating around 0.105 again, and there is no major capital influx on-chain. At the moment, it may also be the dealer’s bull trap, creating the illusion of capital inflow and increasing retail investors’ enthusiasm for bottom fishing.
Lao Qi is relatively bearish right now. Altcoins are just like this: they come fast and go fast. At this price, no big players are stepping in to catch this hot potato. The current sideways movement is not a stop in the decline at all, but a continuation pattern in a downtrend. Once it fully breaks through the support level, further decline is inevitable. You can try a small short position. Lao Qi will also keep a close eye on the market; if something looks wrong, exit immediately and don’t get attached.
The public square has a delay. If you want to keep up with market changes in real time and adjust your risk control plan, come to Lao Qi’s chat room.#Ledger暂停CryptoBilis销售 $LUMIA
#Telegram预计推出Gram钱包 $AGT