🚨 Trade Setup: 🔻 Entry: $0.5239 🔻 Take Profit (TP): $0.4630 🔻 Stop Loss (SL): $0.5525
📊 Market Outlook: $HEI/USDT is facing rejection at the $0.5512 resistance zone, suggesting weakening momentum. If price fails to hold above $0.5230, a drop toward $0.4630 is likely. A clean break below $0.5200 could accelerate the downward move.
💡 Risk Management: Keep your SL tight at $0.5525 to limit downside exposure. Always manage position size according to your risk tolerance.
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🔍 Key Observation: A detailed analysis of $BNX wallets reveals that the top 6 holders control 97% of the total supply. This concentrated ownership suggests a high risk of price manipulation, where large holders can influence market movements.
🚨 Market Implications:
These top holders have the power to pump the price, attracting retail buyers.
Once enough liquidity is generated, they may dump their holdings, causing a sharp price drop.
Traders going short should be cautious, as these holders can trigger sudden upward movements before a potential sell-off.
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Its good to see more longs came-in, so you know what next, short more and make easy money when they get liquidated my targets still to cover shorts 93,800, 91,000, a dip to 89,000
A few days ago when the market started to fall, many people got out of the market out of fear or liquidated in futures trading.
But those who survived in the market at that time are recovering their funds or they are in profit. That's why patience is needed in the crypto sector. Many people always panic when the market goes down. Me too at first but the sooner you get over it the sooner you will find success in the crypto market.
To survive in crypto you must have a lot of patience, strong mindset, can't be greedy. Must have solid plan.
BTC has been consolidating around the $90 - 100k price now for 20 days or so, the weekly time frames are clearly showing price slumping as liquidity and volume slows down due to traders liquidating positions and capitalising at the 100k mark.
I do believe people are still buying BTC and there will be LOTS of fomo buyers at this price, but usually this is where the markets catch those who are to late to the party and they are the ones who are stung when price dumps.
There is some TA to back a potential dump, we have the slumping of price clearly shown by the candle formations, rejections of major key levels (100K) as well as some patterns like a rising wedge / rising consolidation however i'm not much of a pattern trader but it is worth taking into consideration as i know a lot of retail traders do trade patterns so this could influence areas of liquidity and help predict future market movements.
It's likely we see a spike through 100k before price dumps to grab liquidity above the 100k mark. I'm fully expecting a volatile and highly manipulated market as it plays out over the next few days.
If price does dump i would think it will dump to the $72,000 level (-%30) as this is the next major level so again there will be a lot of liquidity in the form of buy orders from traders expecting to 'buy the dip'. It also makes sense for the market to pull back / dump this much as we hade a massive bull market / pump for 3 weeks and there is always relief after a big increase in price simply due to profits being taken so supply will increase.
Be wary, if BTC does dump so will 90& of alts. #BTC☀ #BTC500K #MicroStrategyJoinsNasdaq100 #BTCReclaims101K