Is the bullish arrangement just an illusion? The whales are quietly retreating, can we still chase this wave at $DUSK ?
Brothers, I just finished watching the market. Let's take a direct look at this 30-minute K-line chart of DUSK, I'll explain in simple terms what exactly is happening in today's market.
Remember! The cryptocurrency market is not lacking in opportunities, but in patience.
1. Technical Analysis!
1. Moving Average System: The short-term moving average MA5 is above MA10, and MA10 is above MA30, a typical bullish arrangement, indicating that the half-hour trend is indeed moving upwards, the foundation is intact, and the price is currently hovering around MA5, this is today's first line of defense.
2. MACD: Although the fast line is above the slow line, the red bars are still present, but the red bars have already started to shorten. This is referred to in the market as "bullish momentum weakening."
3. Trading Volume: After a surge, the subsequent red bars are getting shorter, a typical case of rising on decreasing volume; no one is willing to take the bait at higher positions, the main force wants to push up, but retail investors are not following, this kind of trend often doesn't go far.
2. Latest On-chain News!
1. Main Fund Movement: High turnover with abnormal volume! DUSK showed significant fluctuations during the Asian morning trading period—4-hour volume increased nearly twice, but the open interest remained unchanged, which is a typical characteristic of "high turnover."
2. Funding Rate Signal: Bears are still resisting! The funding rate remains negative, indicating that short sellers are still holding on, but the price is stubbornly resisting a drop; this kind of trend where it "should drop but doesn't" often means someone is continuously accumulating below.
3. On-chain Order Book Data: Heavy selling pressure above! The upper Bollinger Band around 0.1101 has a very thick order accumulation, and the selling pressure around 0.1053-0.1054 is also very evident, meaning the selling pressure above is "as heavy as a mountain," and to break through requires significant volume support.
3. Personal Opinion from Gao:
1. The risk-reward ratio of chasing at this position is too poor, a typical "tailing market"—little meat but many thorns. Those with positions can consider reducing their holdings around 0.11400 to secure some profits;
2. For those who haven't entered, just wait. Either wait for a volume breakout and stabilize above 0.11430 before following, or wait for a pullback to around 0.11000 where it can't drop on low volume before considering.
I am Gao, top-tier technical support, serving only those with vision and ambition!
