Whatever you do, don't touch $M. Today's wick is a real gut punch. It's currently at 0.8353, down 7.12% in 24 hours, with a low of 0.8232 and just 2.6M in trading volume—liquidity is paper-thin, and a few thousand bucks can carve out a deep hole. People in the group were still calling for a “buy-the-dip” early this morning. I just dropped a depth chart: the buy orders were sparse, and it was all quants placing and canceling orders to keep everyone on edge.

But that doesn't mean there's no opportunity. $M is now sitting in the 0.823-0.83 previous-low support zone. As long as it holds above 0.82, you can try a short-term long with 3% of your total position. Your stop-loss must be fixed at 0.815, with a first take-profit target of 0.87 and a second at 0.9. Remember, a position over 5% is just handing your head to the whales.
I didn't earn my reputation as Gate's resident talk-you-out-of-it blogger for nothing; I'm here to cure itchy trigger fingers. Follow me for updates on unusual order book activity, and I'll be the first to smash a cup as the signal in the group. Are you holding any $M right now? Comment 1 and let me see who's toughing it out. #每周来晒