This $AUCTION drop is reminding me of $TRB when it pumped to $600. Similar pattern can be seen there, Price moved up and dropped without a bounce in between.
Somehow sentiments are the same as well. People kept buying TRB as it was dropping and whales kept selling it. And now people are buying Auction since $40-45 zone while market makers keeps selling it.
Only a small little pops were there on TRB but it was failed to recover back to the highs. Not sure what Auction will do but remember that not every dip deserves to be bought.
I observed the whole Auction move yesterday. They setup a good trap before crashing it. Showed people -2% funding rate for whole day, Bounced the price from $43 to $62. I saw everyone was talking about it and was saying it will keep moving.
I feel sorry for those who lost money on it. Every market move leaves a lesson for you. Take it, Learn from it and keep moving.
Last week, I had some personal work, so I couldnāt continue sharing BTC analysis. However, from tomorrow, I will resume providing BTC and ETH analysis.
Last week, after I said good night, within 1-2 hours, BTC entered a bearish momentum. It dropped below 96K, and the next day, it fell further to below 93K. Throughout last week, BTC traded within the range of 93K-98K. Currently, BTC is trading below 93K.
Important Note: When I say good night, I genuinely go to sleep and do not monitor the markets. Therefore, I wonāt provide updates if there is a change in market momentum during the night. Please trade at your own risk as I cannot take responsibility for any trades made during that time. If market momentum changes during the day, I will share updates, but night updates are not possible. So, please avoid blaming me for any unexpected changes in night time.