Emergency! The $SIREN bulls have completely gone crazy🔥 Can we still chase the long position? Is heading straight for $10 just a gimmick or real market trend?
First, let me tell you the hard truth, currently, the $SIREN is indeed dictated by the bulls. Yesterday's market has come to a pause, and next, we will see how the market makers play. I chatted with some seasoned traders around me and summarized three possibilities. You all can think about it yourself, don't blindly follow the crowd!
The first possibility is a direct plunge to zero, but the probability of this happening is lower than winning the lottery! Why? The market makers have spent so much effort to boost the traffic, they can't just end it hastily. They must cut another wave of retail investors before they feel satisfied; this is something everyone can figure out.
The second one, which I think is the most likely, is to first push down and wash the market, forcing out those who have leveraged long positions, and then immediately pull up, breaking through the previous highs to explode a wave of shorts. After all, the dog owner loves to play this game, first scaring off the timid, and then bringing the remaining people to feast. The tricks have been played out, but they are still effective.
The third extreme situation, no pinning, directly pushing to 10, clearing all shorts! Many people will ask, can such a high market value hold? Don't be silly, market value is just a pie drawn by the dog owner, all the chips are in their hands, and there is no liquidity, they can push it as high as they want. Moreover, it is a cross-exchange currency, and with a little money, one can explode the shorts. The shorts love to hold positions without stopping losses, and the cleared shorts can turn into buy orders, making it a guaranteed profit. Whoever is the dog owner would do the same!
In the end, I advise everyone, don’t let the market excitement cloud your judgment. If you can make a profit, take it timely. Don’t think about eating from start to finish; in the cryptocurrency world, surviving is more important than anything else!
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