Watching the market today, the movement of HYPE in this hour has my palms sweating! The price is now stuck at the very delicate position of 34.6 USD, up or down? Whether many people's accounts double or shrink may depend on the choices made in the next few hours.
The current 'surge' may be a gentle trap.
The price is 34.522 USD, up 5% in one hour. It looks strong, doesn't it? But let me cool you down a bit. Remember, in the crypto world, when everyone is celebrating, it is often the time of greatest risk. Looking at the details, it has also dropped more than 10% in the last 7 days! What does this indicate? It suggests that this wave of increase is more like a technical rebound after an oversold condition, rather than a true reversal of the trend.
Now, all our eyes should be firmly focused on the two key resistance levels I drew in the second chart: $37.129 and $40.000. I can clearly tell everyone my viewpoint: without major positive news to drive it, the market's first attempt to hit these two positions is likely to fail and pull back. Why? Because too many people who chased high are trapped there; once the price approaches, they will rush to sell and release the pressure. So, if you want to chase high now, I advise you to calm down first.
Behind the MACD 'water golden cross', there is a secret that cannot be spoken.
Seeing the MACD forming a golden cross above the zero axis, one might think it is an eternal buy signal. But Key wants to tell you that during the rebound phase of a downtrend, this 'water golden cross' is often a 'false signal' tempting you to take over! It represents short-term rebound momentum but cannot change the overall weak pattern.
What will the truly smart money do? They will take advantage of this rebound to start gradually laying out short positions near $37.129, aiming to profit from the market pullback. Their target is primarily the short-term support range of $34.663 - $31.881. In other words, the risk-reward ratio of chasing the rise now is very unprofitable!
So, as retail investors, what should we do? Hold on? Or cut losses? Key gives you a clear strategy, this might be the most practical advice you see today:
If you are out of position: please wait patiently. The best opportunities are not to chase the peak that has already risen by 5%, but to wait for it to pull back. Focus on the support effect near $31.881; if it stabilizes after dropping here, you can consider a small position for a short-term rebound, in and out quickly.
If you are already in position: now is the critical moment. Around $37 is the best time for you to reduce your position or even exit; don’t always think about selling at the highest point. Lock in profits and put your principal in your pocket first so you can survive longer in this market.
I will announce the specific direction and points in the village. Those who want to join the villagers of Key Village in the fight, hurry up. If you miss the major recovery opportunity, when will you wait for the next bull market? Pay attention to Key, become a villager, and help you get the wealth code!#hype $HYPE
