I can only say that I have no fate with this coin $W
At the end of last year, around November, it formed a deep W shape. I naively bought into the market at 0.29 when it was gaining volume. At that time, I thought this coin was basically stable, so I didn’t pay much attention and just put my trading phone aside.
Then, in mid-December, I looked at it and saw it hadn’t broken through the key daily resistance level of 0.416. At that time, I wasn’t actually losing much, just over 2000 USD.
As a result, it started to decline continuously, and the main funds began to cash out profits. The pattern had already collapsed, and coincidentally, the overall market kept falling. I knew I couldn’t hold onto this position anymore; otherwise, I would lose everything.
So, I placed a sell order at 0.2145, reluctantly letting go and losing about 30% of my position. After that, I didn’t pay attention to the W shape anymore.
Today, I saw it on the list of top gainers, and my goodness, if I hadn’t sold and had chosen to hold, it would have basically gone to zero by now.
This coin has relatively low popularity and poor liquidity. I already know that this recent surge is to attract retail investors to cut losses. Therefore, I currently view this coin very negatively; it is also the most unsuccessful spot purchase I made when I entered this circle!
It still needs to adjust at the bottom. If there’s another opportunity later, I’ll take a look then.
