$AUCTION rose sharply earlier today to near its all-time high before plummeting over 35%. In the past 12 hours, its liquidation volume was second only to BTC.
$AUCTION seems to be victim of price manipulation, says analyst
On-chain analyst @EmberCN noted via X that the AUCTION token appears to be the victim of a price manipulation scheme. Between Feb. 23 and March 16, the manipulator (a whale or institution) withdrew a total of 2 million AUCTION (26% of the total supply) from Binance Exchange through four addresses, leading to AUCTION's price increasing from $12 to $26. Subsequently, the manipulator moved 500,000 AUCTION to Binance on March 17, driving down the price of the token from $35 to $31. Since then, AUCTION hit an all-time high of $68 this morning before falling back to $45. Currently, the manipulator still holds 1.5 million AUCTION, valued at approximately $67.5 million. $AUCTION
$AUCTION has completely stunned everyone! With an impressive 29.87% increase, the price shot from $43.74 to $60 in a short span, leaving many crypto traders in awe! #BTC Price Analysis# #BTC Price Analysis $AUCTION
Looking at the 4-hour timeframe chart for BNB/USDT
Key Support and Resistance Levels
Resistance Levels:
~$640-645: Price has tested this level multiple times recently, visible in the latest consolidation ~$680: Previous high from mid-February that acted as strong resistance ~$635: Current price is consolidating around this level
Support Levels:
~$615-620: Recent support during the latest uptrend ~$580-590: Strong support zone where price bounced multiple times in early March ~$540-550: Major support where the price found its bottom around March 10-12
Chart Patterns and Price Action
V-shaped Recovery: There's a clear V-shaped recovery from the March 10-12 lows around $540, suggesting strong buying pressure.
Higher Lows and Higher Highs: Since the March 12 bottom, the price has been making higher lows and higher highs, indicating a possible trend reversal from bearish to bullish.
Consolidation: Current price action shows consolidation around $630-640, which could be a continuation pattern before the next significant move.
Volume Profile: Trading volume decreased during the recent uptrend, which suggests the rally might be losing momentum.
Entry Recommendations
For Long (Buy) Positions:
Entry Point: Consider entering around $615-620 if price pulls back to this support level Stop Loss: Place below $600 to manage risk Take Profit Targets: $645 (immediate resistance) and $680 (higher resistance) Risk Management: Keep position size appropriate given the recent volatility
For Short (Sell) Positions:
Entry Point: Consider short entries if price fails to break above $645 resistance with increased volume Stop Loss: Place above $655 to limit potential losses Take Profit Targets: $615 (first support) and $590 (stronger support) Caution: The overall trend since March 12 appears bullish, so shorts carry higher risk
The price is currently showing a small -0.45% decline, suggesting some short-term bearish pressure Trading volume (39.91K BNB) is relatively modest, indicating no strong conviction in either direction The recent price structure suggests a potential continuation of the uptrend, but watch for volume confirmation
Entry Point: Consider short entries if price fails to break above $645 resistance with increased volume Stop Loss: Place above $655 to limit potential losses Take Profit Targets: $615 (first support) and $590 (stronger support) Caution: The overall trend since March 12 appears bullish, so shorts carry higher risk
Entry Point: Consider entering around $615-620 if price pulls back to this support level Stop Loss: Place below $600 to manage risk Take Profit Targets: $645 (immediate resistance) and $680 (higher resistance) Risk Management: Keep position size appropriate given the recent volatility
V-shaped Recovery: There's a clear V-shaped recovery from the March 10-12 lows around $540, suggesting strong buying pressure. Higher Lows and Higher Highs: Since the March 12 bottom, the price has been making higher lows and higher highs, indicating a possible trend reversal from bearish to bullish. Consolidation: Current price action shows consolidation around $630-640, which could be a continuatio #SECCryptoRoundtable n pattern before the next significant move. Volume Profile: Trading volume decreased during the recent uptrend, which suggests the rally might be losing momentum.
~$615-620: Recent support during the latest uptrend ~$580-590: Strong support zone where price bounced multiple times in early March ~$540-550: Major support where the price found its bottom around March 10-12
~$640-645: Price has tested this level multiple times recently, visible in the latest consolidation ~$680: Previous high from mid-February that acted as strong resistance ~$635: Current price is consolidating around this level
Looking at the 15-minute timeframe BTC/USDT perpetual contract chart from TradingView, I can provide the following analysis:
Key Support and Resistance Levels
Resistance Levels:
$87,200-$87,300 (peak on March 20) $86,400 (secondary high on March 20) $85,800-$86,000 (resistance zone on March 21) $84,800 (recent resistance tested multiple times)
Support Levels:
$84,000-$84,100 (current consolidation level) $83,600 (tested multiple times on March 21) $83,200 (strong support from March 21 low) $82,800 (lowest visible support on chart)
Chart Patterns and Price Action
Descending Channel - After reaching the peak of $87,300, Bitcoin has been trading in a descending channel with lower highs and lower lows until stabilizing around the $84,000 level.
Consolidation Phase - Currently, the price appears to be in a consolidation phase between approximately $83,600-$84,400, showing reduced volatility compared to previous sessions.
Double Bottom - A potential double bottom formed around the $83,200 level on March 21, which may indicate a reversal of the short-term downtrend.
Volume Profile - Volume spikes accompanied major price movements, with notable high volume during the initial uptrend and subsequent correction.
Trading Recommendations
Long (Buy) Opportunities:
Entry at current level ($84,090) with stop loss below $83,200 if you believe the consolidation is building energy for an upward breakout Wait for a retest of the $83,600 support level and confirmation of bounce (bullish candlestick pattern) before entering Consider buying on a breakout above $84,800 with increasing volume as confirmation
Short (Sell) Opportunities:
Short entry on rejection at the $84,800 resistance level with stop loss above $85,200 Consider short positions if price breaks below the $83,200 support with increasing volume Potential short opportunity if a bearish pattern forms at the upper boundary of the current consolidation range