$KAITO indicates abnormal movement and risk of a trend reversal
Today, the KAITO market continues to oscillate within a narrow range, with the five-minute candlestick repeatedly drawing support in the 1.15-1.16 range, showing an increase of 0.19% and a fluctuation of 0.27%, revealing signs of high control by the whales. After a quick surge to 1.216 in the morning, it encountered bearish attacks, dropping back to 1.1513. There is a dense accumulation of sell orders at the resistance level of 1.2000. If it cannot break through and stabilize above 1.1600, it may temporarily retrace to the support area of 1.1000-1.0800. The volume moving averages MA9 and MA10 have formed a death cross, and the shrinking volume in the upward movement shows insufficient following orders. The signs of the main players trading against each other are apparent, so be wary of false breakouts that may lure in buyers. Although 1.0000 is seen as a psychological defense line, if it breaks below 0.9600 with increased volume, panic selling may lead to a situation where multiple buyers are forced to sell.
On-chain monitoring shows that this morning, the KAITO chain saw two transactions totaling 8.2 million tokens transferred to the exchange's cold wallet, suspected to be large holders preemptively hedging against selling pressure. The price difference for the near-month contracts from February to October has narrowed to 50.3 times, and the funding rate has turned negative, with short positions rising to 62%, indicating a shift in market sentiment towards caution. On the daily level, the price is under pressure from the upper boundary of the weekly descending channel at 1.2500. Those opening positions on a five-minute chart need to set stop-loss orders below 1.0800, and spot traders should avoid bottom-fishing on the left side, paying attention to whether Bitcoin can hold above the 67000 mark to revive altcoins. There are circulating rumors in the community that core members of the KAITO technical team have cleared their Twitter accounts, and the project side has not yet responded, leading to FUD sentiment and some retail investors cutting losses and exiting the market.
In terms of operations:
Aggressive traders can try to go long lightly in the range of 1.1300-1.1400, with a stop-loss at 1.1100 and a target of 1.1800; conservatives should wait for signs of stabilization near 1.0800 before entering in batches.
For contracts, avoid using high leverage to resist spikes, especially be cautious of the risk of flash crashes caused by sudden drops in liquidity in the European and American markets.
Currently, the whale control tactics are fierce, and short-term fluctuations are intensifying. Spot traders should hold their positions and observe, while contract traders need to adhere strictly to discipline.
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