Written at the beginning:
This article was originally just my personal research, the study of market manipulation by market makers and the observation of hot topics of big Vs, for reference only. The main reason for posting it is that friends in the group want to refer to it and learn what the chart review looks like in conjunction with public opinion hot spots. At the same time, I also want to prove a point that the current market cannot go far with just water flow. Without high-quality projects and hot spots to attract attention, it is impossible to reach a higher market value. The market where big fish eat small fish will eventually fall into the hands of those who control money and public opinion.
1. Background and basic information
Currency: $RFC (MEME coin)
Transaction chain: SOL
Follow us on Twitter: @IfindRetards @RFinder
Keywords: Musk, politics
Background narrative: The narrative of RFC comes from @IfindRetards (i.e. I found an idiot), which was originally a very popular satirical account on Twitter, mainly mocking the idiotic behavior of political and entertainment celebrities. The issuance of the coin by this account also took advantage of ELON MUSK's views on Twitter attacking hostile political dissidents, such as (XX of the Democratic Party is an idiot, and the maker of the tariff strategy is an idiot). At the same time, MUSK directly replied to the tweet later, which prompted the further rise of the currency.
Background Timeline
1) On December 25, RFC registered a Twitter account @IfindRetards, which focused on immigration policy and radical environmental issues, criticizing the white left
2) Posted a political satire on February 25, and accumulated 200,000 followers
3) It is speculated that Musk followed this account from late February to early March
4) 3/3 Musk cue @IfindRetards
Reply to Claire's tweet criticizing Musk for using drugs instead of exercise
5) March was the peak period of interaction between Musk and @IfindRetards, with 22 interactions, 11 of which were initiated by Musk @ing the other party.
6) 3/25, RFC tokens will be launched on pump
2. Analysis of key nodes of K-line trend
Initial stage:
The market opened at 6:30 am on March 25th, and there was basically no trading volume throughout the whole process
The initial tweet was linked, but there was no transaction. Since the one linked was not the one with the largest number of followers, there was no movement in the early stage. The internal market started to rise after 2 hours, until the first tweet was released at 8:30.
In the early stage, DEV should quickly collect internal chips
9:03 A highly watched account released content, announcing the official association, and launched quickly within 4 minutes
9:07 The internal market was launched, and then it quickly doubled and fluctuated sideways, with the lowest market value of 75K. The actual fluctuation range was 150K-230K
Some of the early chip acquirers in this stage were washed away
Then smart money started to pull the price up, led by DNF, and led the copycat wallets to increase the price to 3M.
In the subsequent wash-out phase, the first pure PVP phase began. The market maker’s funds did not intervene (there was a possibility of selling). At the same time, the market was protected at 1.8M, which facilitated the first phase of turnover. The average price of holding costs was gradually raised to more than 2M. After the second phase of funds entered the market, the second round of pull-ups began, rising to the target position of 4M, and then accelerated to 6M.
At this time, due to too many profit-taking orders, many people on Twitter have started to post orders, and the first large-scale shipments appeared. There was a panic wash of 3M, and the pin went to 500K (the largest holding sniper was washed out here)
After the wash, the market began to become lighter, and it was easily pulled up to 8M. The first stage ended, and the channel shipment began. After 3.3M, the shipment ended, and it naturally rebounded to the top of the channel, and then fell to 1.6M without support.
Fund accumulation phase:
On March 27, Musk once again interacted with the official Twitter account after the coin was issued, ushering in a small pull-up, but it was quickly suppressed.
Then there was a 4-day long wash. It should be that the dealer did not get enough chips and still controlled the price at the bottom range. It also did two devsell actions, which kept the price at around 2.2-3.5M.
Changeover phase:
On March 31, Musk once again cue the RFC official Twitter account, and this time the chips were enough.
Before the rise, RFC was launched to moonshot, and a large amount of new liquidity began to enter
Combining the two, RFC took the opportunity to increase the bandwidth to 18M.
After the market value was pulled up, experienced market makers began to adjust the new control range to 8M-15M, and then replaced the retail investor cost to a higher position by high turnover rate. It is worth mentioning that they like triangular convergence very much.
Among them, Musk's interaction on April 2 caused a rapid rise, but the dealer still insisted on his market making plan
Pull-up stage:
On April 6, Musk interacted again. After the RFC account was blocked, Musk responded that the issue of the RFC account blocking was "under investigation", which was basically equivalent to the platform account.
The same script is played out again, and it is converged to the extreme again, and Musk again, RFC begins to wash the 20-60M channel and pull up
On April 8, Musk mentioned RFC again, and BN ALPHA was launched, reaching a high of 80M in a short period of time.
The final sideways rise and the unexpected CCTV call:
After rising to 80M, RFC was washed to 40M twice, and large profit-taking orders began to be shipped and began to converge again.
Something unexpected happened. CCTV, which was eager to watch the fun, reported Musk’s tweet and included RFC’s tweet.
This further increased the popularity, directly creating a high point of 140M
Shipping stage:
Musk has not interacted with the RFC since last weekend, and the K-line has formed a H&S standard shipment pattern.
The first delivery stage is 80M-140M. After the convergence and break, continue to move down 40M to find the shoulder line support
ABC rebounded to the right shoulder and then accelerated to break through the channel. There was no lingering feeling throughout the whole process. There was only a price reaction at the technical level. Today, it directly released to 20M
At this point, RFC fell to 20M and there was no obvious support for the market. The entire period lasted about 25 days, divided into 5 stages, and a highly controlled MEME operation was completed in conjunction with public opinion hotspots.
It is worth mentioning that RFC's narrative is highly concerned by the market as the current market attention is focused on the tariff war. Musk's political views as a contributor to Trump are actually highly concerned by the market, which also makes RFC extremely popular.
All five stages are observed from the traditional chart perspective, looking only at the trend structure. Key information is provided at all key nodes, which is in line with the technical logic of the trader. If there are any omissions or errors, please point them out.
This article was first published on Binance Square. Any unauthorized reproduction is strictly prohibited, except for the author.