Originally, the post was supposed to be released at 4 PM, but suddenly there was a situation in the circle, and it was only delayed until 8 PM.

1. The spectacle of Bollinger Bands tightening: the middle band has become a disaster zone of resistance.
The current price is hovering around $166.55, like doing sit-ups, with the Bollinger Bands tightened to an extreme state. This trend is astonishingly similar to the 'door painting market' in January this year, where the price stagnated near the middle band for three days before a large bearish candle directly broke through the lower band.
Attention seasoned investors: The market situation is even more gripping - at the $170.7 price level, there are sell orders totaling $38,332 (the limit price is $170.7, equivalent to 229 SOL), which is 3.2 times the amount of buy orders. The market maker has set a solid ceiling at the $170 price level, clearly intending to prevent retail investors from breaking even.

2. Funding rates reveal bearish intentions.
Although the price remains relatively stable, the funding rate has dropped to -0.43%, while the open interest is as high as $1.2648 billion. This script is quite familiar to me! Looking back at the eve of the FTX collapse in November 2023, SOL also showed similar signs: negative rates accompanied by high open interest, resulting in a price halving within a week. On the on-chain level, it is even more thrilling - whales transferred 820,000 SOL to exchanges within three days, which is undoubtedly a sign of withdrawal.

3. MACD death cross warning: Bulls are in trouble.
The price seems to be asleep, but the MACD indicator has already revealed signs of defeat:
The fast line crosses the slow line forming a death cross, and the energy bars are rapidly shrinking.
This trend is reminiscent of the signs before the plunge in April, when the price dropped 26% in three days.
Hidden dangers in the order book: the order volume at $170.7 is 3.2 times that at $164.6, and the market maker is waiting for a chance to launch a fatal strike when retail investors push the price up.

Operational strategy: Veteran's risk-averse secrets.
Spot investors: Place sell orders at the $170.7 price level, and clear out if it falls below $160. Remember: the market maker has heavy troops buried at the $140 price level, and will show no mercy when smashing the price.
Contract traders: Open a short position at the current price of $166.5, targeting $140. The leverage ratio should not exceed 3 times to prevent sudden price spikes to $175 overnight that could lead to liquidation.
Zen investors: Uninstall the app for peace of mind, recite the principle of 'not bottom fishing in sideways markets', and wait until the daily line stabilizes above $160 before considering entry.
Be sure to closely monitor the transfer dynamics of whales on the Solana chain tonight. If there is another occurrence of 100,000 SOL being deposited into exchanges, it may instantly recreate the tragedy of the FTX collapse. Remember: the market maker's cost line is around $140, save your bullets and wait for the golden pit to appear, do not become cannon fodder at the $170 price level!

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