MYXUSDT just had an incredible price surge: from a price range of about 0.13 up to nearly 0.98, before sharply retracting to below 0.58 in less than an hour. Those who saw this increase of over 160% will certainly ask: Should we jump in?
Short answer: Caution.
Beneath the surface of a vertical increase, the market shows many signs of chaos:
• The number of buyers (taker buy) surged just as the price was rising, indicating widespread excitement. But immediately after, the active selling overwhelmed – someone sold off their assets at just the right moment.
• Trading position data shows that initially many people bet on a price drop (Short), but when the price rose too quickly, they were 'forced to liquidate' and got caught in a buying wave (Long). Soon after, the market reversed – and those who bought at the peak got stuck.
• Open Interest dropped sharply after increasing, meaning many positions were closed hastily – possibly due to fear, cutting losses, or being liquidated.
The above signs suggest that this could be a price push strategy – then a deliberate sell-off. Not uncommon in the crypto market, but each time this happens, many people lose money due to FOMO.
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🎯 Suggestions for the community:
• If you have not entered a position, do not rush. Wait for the market to stabilize again; there may be a bounce, but be very alert to the next 'fake push'.
• If you have entered a position and are at a loss, reassess the price level you entered – and do not let emotions dictate your decision.
• Always remember: a sharp price increase is not necessarily an opportunity – sometimes it is a trap.
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If you want to follow neutral, objective viewpoints and not get swept up in FOMO, follow similar analyses on the channels I share.