$NXPC Violent Pullback
The traces of the dog fund's protection are laid bare right in front of us, but the Fibonacci resistance level at 2.0000 acts like a welded steel plate, and three attempts to break through have all been smashed down. After the MACD formed a dead cross above the water, it went flat; the bullish energy bars shrank to the size of chives, and on-chain monitoring has detected three large deposits exceeding 500,000 NXPC into Binance, clearly indicating that the main force is sharpening its knives, preparing to strike against the bulls!
The order book is hiding deadly traps, with a serrated layer cake of orders stacked at the 2.0000 level, a typical fishing scheme from the exchange.
The news is even worse, as the US SEC has once again postponed the approval of BlackRock's Bitcoin ETF, causing the market to perform a high-altitude dive instantly, with altcoins bleeding out collectively. Does NXPC, a small-cap coin, think it can break through against the trend? Just look at the “strategic partner” smokescreen the project team posted on Twitter; the white paper doesn’t even clearly outline a cooperative framework, obviously a ploy by the dog fund to spread news and lure in buyers before the pump!
Technical alerts are all on: the 15-minute RSI shows a top divergence hitting the overbought zone at 82.6, and the 4-hour Bollinger Bands have contracted down to the life-or-death range of 1.945-2.000, with a volatility bomb ready to explode. That wave of volume-less surge in early trading was purely a trick by the exchange's market makers, left hand selling to the right hand, with the trading volume not even touching the 5-day moving average.
Focus on the Europeans in the afternoon for potential sell-offs; if BTC breaks the 67,000 mark again, NXPC will definitely follow suit in free fall. At this position, it’s better to stay on the sidelines and watch than to become a bag holder; the dog fund's sickle is already sharpening at the 2.0000 resistance level, sparking sparks!
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