$XNY
A few days ago, I pulled 0.02, today it's down to 0.006. It feels like the market maker wants to play 'The Wolf is Coming'.
That wave at 0.02 was to show off muscle, telling you that as long as the market maker wants to pull, it can start tenfold.
A few days ago, the wave was to lure in buyers, allowing the market maker to take a big bite when they short.
Today at 0.006, I speculate the market maker is teasing the high-position holders to get them to cut losses, so they can proceed to the next round.
A good market maker is one that can pull the market because it costs them their own money. Being stuck at high positions is due to greed and not setting stop losses; without discipline, it's easy to hold on and get liquidated or be worn down by funding rates.
Currently at a high point, I do not recommend going long. If you have strong capital and can withstand a short position, it's not a big issue.
In simple terms… you can wait for it to drop to 0.001 before entering heavily; for now, it's suggested to observe and watch the market maker's performance.
