$COW has revealed a dual trap of long and short!
In the morning, the price fluctuated repeatedly in the range of 0.41-0.42, and in the afternoon, it suddenly surged to 0.4249, piercing the upper Bollinger Band at 0.4232. This 5-minute level spike just touched the resistance level before being countered by bears, causing the price to quickly drop to 0.4180 and break through the EMA5 support. On-chain monitoring shows that a large whale concentrated its sell-off of 12,000 COW around 0.4230, coupled with the funding rate of Binance perpetual contracts dropping to -0.023%, a blatant trap to lure in buyers.
The current market hides three major dangers:
First, the MACD has formed a secondary death cross below the zero axis, with the purple momentum bars continuously expanding downward.
Second, the 4-hour trading volume has plummeted to 1.8 million USDT, setting a new low for this month.
Third, the key psychological level of 0.41 has formed three rebounds from the bottom, but each rebound high is decreasing (0.4249→0.4215→0.4192), a typical continuation pattern of a decline. More dangerously, the middle Bollinger Band at 0.3953 coincides with the daily MA30, and once it breaks down with volume, it will trigger a long liquidation cascade.
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