Today there is news that has shaken the cryptocurrency circle:
A giant whale made $249,000 on HYPE and then rushed back in—this time it was $7.9 million, leveraging 10 times to go long!
Many people see this and get excited: “If the whale is going in, should I not go in too?”
Don't rush. The way whales play is different from yours; they might be fishing, while you could be the fish.
From the one-hour chart:
HYPE is still in a downtrend, the MACD is barely crossing above the zero line, seemingly ready to rebound, but the volume is shrinking—what does this indicate? No one is following the trend.
Can just one whale lift a sinking ship?
I don't believe it.
The upper pressure levels of 28 and 30 are like two mountains; without real money continuously entering the market, it's impossible to pass.
The lower support to look at is 26 - 23.5; if it breaks below 23.5, then 21 probably won't hold either.
If it rebounds to around 28 today, I will short it first to make some quick money.
If it directly drops, then wait near 23.5 to grab a rebound, get in and out quickly, don't be greedy.
Do you know why the market is so 'lukewarm' now?
Because the expiration date of options is affecting emotions, and many people are afraid to act.
Whales adding leverage at this time are either seeing something you cannot see, or—are just creating an illusion.
I tend to lean towards the latter.
To know the market trends in real-time, find Nanxi
If you have HYPE in hand now, remember:
In a downtrend, every rebound is an opportunity to escape, not a belief to add positions.
If you are out of positions and really want to play, just take a small position at the support level to bet on a rebound, set a stop loss, and run if you make a profit.
Don't be blinded by the 'whales adding positions'; they lose 7.9 million without feeling it, while losing 7,000 might keep you awake at night.
The market is always changing, but human nature never changes.
The movements of whales are signals, but could also be decoys.
Whether HYPE can truly reverse depends on whether it can maintain volume above 26 in the next 4 hours.
If it can't hold, the decline is just beginning...
There are always opportunities in the market; the key is to operate calmly. Nanxi will continue to help everyone keep an eye on on-chain dynamics, moving steadily forward together! Follow Nanxi and participate in every attack by Nanxi villagers! Nanxi will announce specific entry times and real-time news in the village every day!#hype $HYPE
