Hello everyone, I am Zhou Yi, a senior financial analyst with many years of experience in the cryptocurrency circle. Today, I saw a candlestick chart and a breaking news, and my heart skipped a beat—this market is too exciting! A fan asked me whether the Meme coin will break through the resistance level of 0.001580 or drop to the support levels of 0.001455 or even 0.001420? Don't worry, I will explain it clearly in simple terms, combining news and technical analysis. At the end of the article, I will share a simple method for trading cryptocurrencies and leave a suspense: there may be big movements tonight, follow Zhou Yi, and don’t miss the opportunity!
News: Whales are cutting losses, the market is fluctuating in panic
First, look at that news: A 'whale' heavily invested in a Chinese Meme coin at a high position, but couldn't hold on and cut losses, losing $3.598 million! Just this 'Binance Life' coin alone lost $2.49 million. What does this indicate? Even large holders can't withstand selling, and market sentiment is panicking. The news is bearish, but this kind of 'cutting losses' often means the selling pressure is nearing its end—a rebound may follow after a washout. But don't rush; this is just the surface; it’s more accurate when combined with technical analysis.
Technical analysis: K-line shows oscillating decline, and shrinking volume is a hidden danger.
Now, let's look at the one-hour K-line chart: The price is now 0.001418, with resistance at 0.001580, a key level in between at 0.001455, and support at 0.001420. The overall trend is oscillating downwards, like a roller coaster. The MACD's yellow and white lines are below the 0 axis, indicating a potential continuation of the decline; the RSI indicator is around 40, not considered oversold, but showing a balance between bulls and bears, indicating market hesitation. The most critical point is the shrinking volume—after the red bars of trading volume rise, they shrink, like a person running out of energy, indicating insufficient upward momentum. A golden cross has appeared, but the volume has not kept up, which may be a false signal.
Zhou Yi's view: Bearish in the short term, but opportunities lie within the volatility.
My personal opinion: Short-term bearish, likely to first test the key level of 0.001455, and may even drop to the support of 0.001420. Why? The news of whales cutting losses is intensifying selling pressure, and the technical MACD may be strong in decline, with the volume not keeping up, making it hard to break through the resistance at 0.001580! But don't be discouraged in a volatile market—this might be a 'washout'; after a significant drop, there could be a rebound. For the future trend, I am bearish within a week, but if the support holds in the medium to long term, it may reverse. Remember, the crypto market is unpredictable, and the suspense lies in: tonight's U.S. data or new news may trigger a market surge, so stay tuned for my follow-up analysis.
Crypto trading methods: Three simple tips, retail investors beware of pitfalls.
As an analyst, I want to share some practical tips: Don't act recklessly when trading Meme coins. First, position management: Never go all-in; play with spare cash, such as trying out 10% of your principal. Second, set stop-losses: Like that whale, cut losses early to lose less; I recommend cutting losses at a 5% drop. Third, look at the general trend: Combine news and technical analysis, and avoid chasing highs when the volume is shrinking. The case of that whale—greedy with a heavy position, ended up cutting losses; we retail investors need to learn from this.
What should retail investors do? Remain calm and observe, wait for signals.
If you are a retail investor in this coin, don't panic right now! Suggestions: Primarily observe; if the price reaches the support level of 0.001420, you can try a small position to go long, but you must exit if it breaks down; the peak at 0.001580 is a selling point, don't be greedy. Emotionally, I understand your anxiety, but the crypto market is a marathon, not a sprint. Follow Zhou Yi; I will post real-time analysis daily to help you avoid pitfalls.
Tonight, important data will be released, which may change the trend of Meme coins! Want to know specific points and operations? Quickly follow Zhou Yi, leave a message in the comments saying 'Zhou Yi take me flying,' and I will randomly select fans for free Q&A. Gaining followers relies on sincerity; I am Zhou Yi, wishing you less detours in the crypto world!!!
There are no gods in the crypto world, only smart people who can read signals. Zhou Yi's skills are not bragging or making empty promises, but teaching you practical survival skills. Follow @周易趋势 and lay out plans in advance every day in the village! If you want to follow Zhou Yi in real-time, we are building positions together, and I will share my profits with you! #加密市场回调
