Today, taking a glance at the gainers, it has simply become a counterfeit base. Especially that $ICNT surged 45%+ in a day, quite scary, right?
Why is it so crazy? To put it simply, there are two reasons:
First, retail investors have piled up short positions.
Look at the funding rate, it's been negative for how long? Everyone thought it was going to drop, desperately opening shorts.
The big players love this kind of situation where you all gather on one side; I just flip it and pull it up, directly blowing it clean. This is not a market trend; this is harvesting.
Second, this coin has no spot trading pairs at all.
What does that mean? The price is like playdough in the hands of the big players; they can mold it however they want.
The cost of pushing the price up is extremely low, and no matter how many shorts there are, they are just live targets.
In such a situation, technical analysis sometimes is truly not as good as reading the mood of the big players.
So can you touch this coin?
Yes, but you must never rush to open shorts at the peak of emotions.
Going in now is just supplying ammunition to the big players.
Including mainstream ones like $SOL , you shouldn't be in a hurry to bet on the direction at this position.
When market sentiment rises, any outrageous price could be struck.
Wait until the trend establishes itself and look for a clear signal; it's a hundred times safer than guessing the top or bottom.
Remember, the market is never short of one or two K-lines.
Keep your bullets ready; don’t rush out of the trenches when the cannon fire is the heaviest.
When the smoke clears, who is swimming naked will be clearly visible.
In a bull market, surviving is more important than making quick money.
Continue to follow: $WET
