#sui
Yes, it was a trap and I have written about this scenario more than once; you can follow the previous posts.
Market Maker Strategy (Continuation of Distribution)
Immediate Target: Break the critical support (1.5882) and target the daily low 1.5693, which is the final distribution target.
Method: Use the pivot point (1.6046) as a rejection area (resistance) for any slight rebound attempts, to maintain selling pressure and liquidate more involved buyers.
The market maker's plan is to continue falling to force buyers to sell at a loss.
Note: Focus on short sales, specifically when breaking 1.5882.
1.6046. As long as the price is trading below it, the bearish trend is the strongest.
$sui
