This morning I screened for 5 coins where major players are secretly accumulating: MAGIC is up 95% over 7 days, OGN 49%, and STX 11%. They have one thing in common: they’re trading sideways or slightly down over the past 24 hours, but have continued to rise over the past 7–30 days.
But I’m not excited. Signals like this popped up over the past week, and 1 in the first 3 got dumped. High futures open interest doesn’t mean a coin is about to pump; often, someone is just waiting to sell at the top. This batch has only 6–13M in OI, and the order books are too thin—just a little selling from major players could send prices crashing.
My rule: watch, don’t act. Wait for a breakout on high volume before entering. I’d rather miss out than get caught in a false breakout. MAGIC’s 95% gain in 7 days is a warning sign in itself.
#BTC
But I’m not excited. Signals like this popped up over the past week, and 1 in the first 3 got dumped. High futures open interest doesn’t mean a coin is about to pump; often, someone is just waiting to sell at the top. This batch has only 6–13M in OI, and the order books are too thin—just a little selling from major players could send prices crashing.
My rule: watch, don’t act. Wait for a breakout on high volume before entering. I’d rather miss out than get caught in a false breakout. MAGIC’s 95% gain in 7 days is a warning sign in itself.
#BTC