Crypto friends, I am Zhao Gongming. ASTER has revealed a bombshell news: the project team has burned 77.86 million ASTER, worth nearly 80 million US dollars! Logically speaking, such a level of 'deflationary destruction' should have already caused the price to soar. However, strangely, the price has remained around 1.045 without moving, and it even appears to be on the verge of falling. Is this an opportunity to make money or a trap to lure you in? Follow Zhao Gongming to see through the signals behind ASTER!
News: The destruction is a positive signal, but beware of 'good news fully priced in'!
The destruction of nearly 80 million US dollars can indeed significantly reduce the circulating supply, which is a major positive signal in the long term. However, you must be wary of a classic pattern: 'buy the expectation, sell the fact'. There may have been insider funds laying out their positions early, and when the news is announced and retail investors rush in, they might just be selling at a high. The project team has also announced a new buyback address, which likely means: they are not in a hurry to pump the price immediately but plan to accumulate slowly.
Technical aspect: 1.08 is the 'mirror of truth,' revealing the true nature of bulls and bears!
The 1-hour chart makes it clear: 1.08 is the dividing line between bulls and bears. If it can't break above, every rebound is just a trick. The MACD is in a death cross, and the white line is deep in the 0 axis below, making the bearish trend evident. If the price can't even get past around 1.05, it is very likely to continue to probe the bottom, with the first support at 1.02 and strong support at 0.9933.
Remember, in a downward trend, any rebound brought by good news is an opportunity for you to escape or short, not a reason to chase the rise.
Zhao Gongming shares daily; if the analysis is helpful to you, you can follow Zhao Gongming. I will continue to share first-hand news and entry points in the chat room!
Zhao Gongming's views and strategies:
Zhao Gongming's view is clear: the trend is bearish, absolutely do not catch a falling knife, a rebound is an opportunity for a short position.
Advice for those already holding positions: don't fantasize that a burn will immediately pump the price. If the price rebounds to around 1.06, it's your last window to reduce positions and stop losses. Preserving capital is more important than fantasies.
Advice for those wanting to enter the market: the core strategy is to short at highs. The ideal short position is around 1.06, with a stop loss above 1.08. The initial target is 1.02; if it breaks, then look around 0.993.
In the crypto world, 'if good news doesn't lead to a rise, a major drop is inevitable.' When everyone sees good news, it's often the most dangerous time.
If you always rush in with excitement when you see such 'earth-shattering good news,' you often end up standing guard on the mountaintop; if you want to learn how to distinguish between 'real good news' and 'false pumps,' respond to various market smokescreens with a calm strategy, follow Zhao Gongming. I will teach you how to see through the true intentions of project parties and major funds using 'on-chain buyback data' and 'price action analysis,' so you no longer become a victim of information. #比特币VS代币化黄金
