Brothers, I am Hongcai! The HYPE market is really exciting and makes people anxious! Last night, a big bearish candle directly smashed through the critical level of 26, and now it is barely surviving around 23.5. Don't be fooled by the giant whales crazily bottom fishing, I tell you, the decline may have just played out halfway!
News
Indeed, multiple whale addresses have crazily purchased over 17 million USD worth of HYPE, and even a giant whale has a buy order waiting at 15 USD to bottom fish. However! Those in the crypto circle understand one principle: if good news doesn't lead to a rise, there must be something wrong. With such large funds buying in, the price can't even push past 26, what does it indicate? Either there is significant selling pressure in the market, or whales are slowly accumulating at low levels, not in a hurry to pump the price. Don’t treat the cost of whales as your life-saving symbol!
Technical Analysis
The four-hour chart is unreadable! 26 strong support has turned into an iron ceiling, with heavy pressure for rebounds.
The most critical indicators are: a death cross below indicates that bears completely control the rhythm; when the red bar turns into a green bar but the trading volume shrinks, it is a typical continuation of the downward trend, and the rebound lacks strength!
23.5 is the last line of defense at the moment. Once it breaks, it will head straight to the strong support at 21, which means nearly 30% of downward space!
Hongcai's personal opinion:
The support at 23.5 is very likely to fail! The market needs a panic sell-off to wash away the uncertain chips before it can truly bottom out. The target is around 21 dollars. The whales' purchases are for long-term layout; they can endure floating losses. Can you? (What you can do now is to find Hongcai in the chat room, and I will give you advice on how to counter the whales, accumulate bullets in a bear market, and flip positions in a bull market.)
Survival Guide for All Players:
Aggressive: Want to catch the bottom? Hold on! At least wait for an effective break below 23.5, then gradually layout in the 21-22 area, and you must set stop-loss orders. Want to short? You can try with light positions when the price rebounds and struggles near 26.
Conservative: Entering the market now is just a gamble on size. So learn from the whales and place orders at 15. Either wait for the day when HYPE can increase in volume, be strong, and steadily stand back above 26 dollars, then consider following up; it won't be too late to drink the soup.
Remember, respecting the market and understanding the intentions of large funds is more important than blindly following trends. Follow Hongcai to penetrate the fog and seize the opportunities that truly belong to you!
A drop is not the end, but a test to reveal your understanding and discipline. Only those who can remain calm in panic will seize the next wave of skyrocketing prices. Follow Hongcai and participate in every attack from Hongcai! Hongcai will announce specific entry times and real-time news in the chat room every day!#加密市场观察 $HYPE
