Post

$ICNT The data doesn’t add up. 24h trading volume is 99 million, more than ten times the usual volume, but the price is stuck at 0.3348 and hasn’t broken through 0.3630—high volume without a price move, a classic sign of rotation rather than a pump.


I entered around 0.29 on Wednesday, didn’t sell when it surged to 0.36, sold half on the pullback to 0.34, and I’m a bit on edge with half my core position still in. Looking back, the entry was fine; the mistake was getting greedy for that last leg. I should have trimmed as soon as volume peaked.
Three possibilities: first, whales are wash trading to distribute, and some of the 99 million is inflated; second, it’s genuine rotation, with someone accumulating at this level and waiting for a second leg; third, someone has early knowledge of news and is rushing in. I lean toward the second, but I’ve moved the stop-loss on my core position up to 0.31; if it breaks down, I’m out. Don’t chase a new position; wait for a pullback to 0.30-0.31 on declining volume before reassessing, and keep your position below 20%.
Signals like this only happen a few times a year. Volume doesn’t lie, but you have to watch the direction yourself. #每周来晒 #Gate广场中秋团圆局
View Original
This page contains third-party content and does not constitute any advice, nor does it represent Gate's endorsement of such views. For details, please see disclaimer.
ICNTICNT-10.32%


Add a comment
Add a comment

Comment
No comments