$NIGHT I always say: If I knew where I would die, I would never go to that place. And this chart of NIGHT clearly states two words: Trap.
First, let's look at the most glaring truth: a 20.45% drop in 7 days, with a nearly zero increase over 30 days, falling from a high of 0.12 all the way down, trading volume continues to shrink, new funds avoid it, and the funding curves for contracts and spot prices are heading south, obviously indicating that the main force is fleeing on a large scale.
The most useful mindset in my life is to think in reverse. If you want to catch the bottom for a rebound, first check where you would die: the range between 0.047 and 0.0492 is the first ghost gate for bulls; once it breaks, the chain liquidation of high-leverage long positions will leave you with no chance to stop-loss; and the range between 0.0427 and 0.045 is the bulls' graveyard; once it breaks, it will only lead to a deeper abyss.
Now, let's see how much you can earn: the range between 0.053 and 0.0549 is the dense area for short positions; if you want to bet on a rebound, you must first break through layers of resistance; the downside space is much larger than the upside space, with a pathetic chance of winning. This is not investment at all; it is pure gambling.
I have never caught a falling knife in my life, nor do I engage in bets where the odds are not in my favor. Too many people always think about catching the bottom to make quick money, but forget that in a downtrend, there are still eighteen layers of hell beneath.
The market is never short of opportunities; what is lacking is the determination to control one's hands. Remember: not doing stupid things can earn you much more money than doing smart things.
What do you think, will NIGHT continue to fall, or can it welcome a rebound?
First, let's look at the most glaring truth: a 20.45% drop in 7 days, with a nearly zero increase over 30 days, falling from a high of 0.12 all the way down, trading volume continues to shrink, new funds avoid it, and the funding curves for contracts and spot prices are heading south, obviously indicating that the main force is fleeing on a large scale.
The most useful mindset in my life is to think in reverse. If you want to catch the bottom for a rebound, first check where you would die: the range between 0.047 and 0.0492 is the first ghost gate for bulls; once it breaks, the chain liquidation of high-leverage long positions will leave you with no chance to stop-loss; and the range between 0.0427 and 0.045 is the bulls' graveyard; once it breaks, it will only lead to a deeper abyss.
Now, let's see how much you can earn: the range between 0.053 and 0.0549 is the dense area for short positions; if you want to bet on a rebound, you must first break through layers of resistance; the downside space is much larger than the upside space, with a pathetic chance of winning. This is not investment at all; it is pure gambling.
I have never caught a falling knife in my life, nor do I engage in bets where the odds are not in my favor. Too many people always think about catching the bottom to make quick money, but forget that in a downtrend, there are still eighteen layers of hell beneath.
The market is never short of opportunities; what is lacking is the determination to control one's hands. Remember: not doing stupid things can earn you much more money than doing smart things.
What do you think, will NIGHT continue to fall, or can it welcome a rebound?