$NIL This sideways movement is making people anxious, with prices stuck around the middle Bollinger Band at 0.4662, currently at 0.4590 barely holding on. The upper band at 0.4780 is pressing down like a mountain, while the lower band at 0.4563 has been reinforced by the market maker. The MA5 trading volume of 280,000 USD compared to MA10's 240,000 USD seems like an increase, but in reality, it’s just scraping the bottom; this volume isn’t even enough to cover the market maker's small change. The order book is so thin it’s almost transparent, and the main force's intention to manipulate is so obvious it’s like they’ve written it on the candlestick chart. This kind of market, where you’re walking on the edge of a knife, makes me nervous.
The market maker is currently treating the range of 0.4563-0.4662 like a chessboard, playing psychological games, while altcoins are following Bitcoin's lead and are stuck. Bitcoin is playing dead at the 100,000 USD mark, and low-market-cap coins like NIL, with a circulation of only 195 million, don’t dare to act recklessly. The hype around the mainnet has already been consumed by the market maker as fodder for the retail investors, and there isn’t even a 10,000 USD buy order visible on the order book. This period of sideways movement will either result in a massive spike or a total collapse; the longer it goes on, the more brutal it will be.
Spot traders should keep a close eye on the lower band at 0.4563, and don’t place orders above 0.4520 to avoid being caught off guard. Futures traders, hold your horses; rushing in now is just handing over your heads to the market maker. Wait for a strong breakout above 0.4662 before chasing, or open a short position if it breaks below 0.4563. Altcoin rallies depend entirely on Bitcoin’s generosity. The quieter the market gets, the more vigilant you need to be; the market maker loves to flip the table while retail investors are dozing off.
There’s no news today, and the NIL team is playing dead more steadily than a deep-sea submersible. However, the open interest in Binance perpetual contracts has quietly increased by 12%, indicating that the market maker is probably loading up for a big move. Remember, the name of the game with altcoins is to run fast; take profits when you can and don’t get overconfident. Earning enough for a meal during this market is good enough.
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