Dear friends, I am Hongcai! Last night HYPE experienced a sharp decline, and now the whales are going long. Everyone is asking: Is this rebound really an opportunity to buy, or is it a trap set by the main players? Is it an opportunity or a pitfall? Let me break it down for you!
News
Someone dares to go long with 4.7 million USD and 10x leverage, which shows he is extremely optimistic about a short-term explosion. But remember, high leverage is a double-edged sword; profits can soar, but losses can hit quickly. The liquidation price is set at 13.68, which is quite a distance from the current price, indicating he has some capacity to withstand a drop, but it also means that if the market is unstable, it could trigger a chain reaction of liquidation at any time. This is not a move for newcomers; this is gambling, not investing!
Technical analysis
From the 1-hour chart, HYPE is currently stuck around 23.1, and the key resistance above is 23.5.
After breaking here last night, it quickly rebounded, but the trading volume is shrinking, indicating that there isn't much follow-up buying, and the rebound lacks strength. The MACD is in a wait-and-see state; although buying is slightly greater than selling, the overall momentum is weak.
If it breaks 23.5 and holds, it may open up upward space; if it rises and then falls, it is likely to test the support at 22 again, or even the strong support at 21.
Hongcai's perspective
This rebound has suspicious signs of a trap; whales pumping the price does not mean the market is stable, but rather, be wary of them unloading at high levels. Especially since the trading volume has not kept up, it shows that market sentiment remains cautious.
Old players: You can try shorting lightly around 23.5; if it breaks 23.5 with increased volume, then consider following it for short-term gains, aiming for 24.5.
New players: Remember, the whales can afford to play, but you can't. The market is highly volatile now, and you might get trapped as soon as you enter. It is advisable to wait and consider small positions once it stabilizes at 23.5; if it breaks below 22, hold off on bottom fishing.
High leverage news is often a double-edged signal; it could be a prelude to a rally, or it could be a smokescreen. Follow me, Hongcai will help you calmly observe the market and refuse to be cut off! Keep a close eye on 23.5 tonight; if it breaks, follow it; if it doesn't, wait!
In the market, the most important thing is not to predict every wave, but to ensure you are always on the boat. The tide of liquidity will eventually lift all true value vessels. Follow Hongcai and participate in every attack from Hongcai! Hongcai will announce the specific entry time and real-time news every day at the Caishen's house!#加密市场观察 $HYPE
