《My MYX position surged by 300%! Only fools believe in 'value investing', wolfish thinking is the way to go!》
"Consolidation wears on the heart, breaking out determines the direction—today's triangular convergence in MYX hides not opportunity, but the cold light of the sickle."
As an old hand in the crypto circle, I have a habit when watching the market: first look at the major coin's face, then look at the movements of the altcoins. Today's MYX trend clearly shows a cowardly nature of "following the decline but not the rise."
From the 1-hour candlestick view, MYX has been rubbing between 13.1 and 13.3 since dawn, the Bollinger Bands have completely narrowed to a seam, which is called "accumulating strength to choose direction"—but note that the false breakout that spiked to 13.31 in the early session was quickly smashed back down, and the MACD red bars are expanding, indicating that the main force is playing the "fishing line": pulling up to deceive the longs, then shorting to crush the market.
Last month, SOMI also had a similar pattern, after consolidating, the funding rate skyrocketed to 0.03%, resulting in an instant spike liquidation. Today, although MYX's rate is only 0.014%, the negative commission ratio of -0.4% indicates that there are more people pressing orders than taking them, this "invisible bearish arrangement" is very dangerous.
Personal view:
In the short term, don't chase the longs! The current price of 13.17 is just below the middle Bollinger Band, this is a critical watershed of strength. If BTC can't hold 112000 tonight, MYX will likely test the support at the lower track of 12.0. Even if there is a rebound, as long as it hasn't increased and stabilized at 13.75, it is a trap to lure the longs.
The dealer is obviously "wasting time": using narrow fluctuations to force retail investors to give up their chips, while creating a false appearance of liquidity with high-frequency orders.
My sideways strategy is: short below 12.9, targeting 12.2; or wait for a volume breakout above 13.75 before entering long, otherwise, it’s better to miss out.
The longer the consolidation, the harsher the breakout. Want to know when MYX will explode in price? The village will keep you updated in real-time on the main force's abnormal orders—Caiyue channel, only feeding solid goods.
