Daiyu takes you to see $SXT : The main force's intention to cash out with good news is exposed, and the middle track of the Bollinger Bands becomes a life-and-death line! This morning, SXT was weakly fluctuating just below the middle track of the Bollinger Bands at 0.127, with obvious traces of the dog owner suppressing the market—currently, the amplitude has narrowed to 3.8%, and the MA5/MA10 average lines have shrunk to the lowest value this month. The range of 0.12-0.13 has continuously accumulated volume but lacks breakthrough action, a typical "fishing line" trap.
The positive news of Coinbase International launching SXT perpetual contracts was precisely utilized, spiking to 0.15 before quickly crashing. The main force took the opportunity to cash out, resulting in a long upper shadow bearish candle on the daily chart. The current price is trapped in the narrow range of the middle and lower tracks of the Bollinger Bands at 0.125-0.128, with 0.132 accumulating a triple trapped position formed on May 6. If the previous low of 0.122 is lost, it will trigger a multi-kill scenario, and in extreme cases, it could dip to the weekly lower track around 0.118.
Two abnormal signals have appeared in the data:
First, the width of the Bollinger Bands has narrowed to 4.1%, but the volume has not increased simultaneously, indicating severe control by the dog owner.
Second, the 5-minute K-line frequently shows 0 transaction volume columns, suspected to be the exchange washing orders to create a false sense of liquidity. This "boiling frog" style of gradual decline is the most dangerous, and the contract leverage ratio has soared to 35 times, which may spike at any moment to liquidate long positions.
If you are currently trapped, feeling helpless and confused about trading, and want to know more about the cryptocurrency circle and first-hand cutting-edge information, click on the avatar to follow me; don’t get lost in this bull market anymore!
