$NOT this lower price level is a fish market ... buy or sell, if you keep conservative profit points you will achieve them in a few hours if not earlier ... conservative ... either way ... don't sit on your coins
Today the value of digital currencies, including prominent ones like $BTC and $ETH , even the new phenomenon $NOT has fallen below key support lines at a time when no one of us was expecting it, at least it was going good even this afternoon. Here are the key reasons why digital currencies might fall below their support lines:
1. Market Manipulation: Large holders, often called "whales," can influence market prices by making large trades. If they start selling in bulk, it can push prices below support levels. Pump-and-dump schemes or coordinated efforts to drive prices down can also break support lines.
2. Speculation and Volatility: Cryptocurrencies are highly speculative and volatile assets. Rapid price movements are common, and speculative trading can lead to sharp declines that break through support levels.
3. Technical Analysis Signals: Breaching a support line often indicates a shift in market sentiment from bullish to bearish, encouraging more selling.
4. Lack of Liquidity: In periods of low trading volume, even relatively small sell orders can have a significant impact on the price, potentially pushing it below the support line. Less liquidity means there are fewer buyers to absorb selling pressure, leading to more selling.
5. Fear and Panic Selling: Negative news or events can trigger fear among investors, leading to panic selling. When a large number of investors start selling their holdings, the price can drop rapidly, breaking through support levels. Examples include regulatory crackdowns, major hacks, or significant financial scandals involving cryptocurrency exchanges or projects.
With these in mind, please trade calmly. Crypto trading is not for those who faint every time something happens.
$NOT personal log for public record ... I want to see if I'm onto something ... Test hypothesis: in the next two hours or so, the price should be around .0208
$ATA yikes ... good thing I wasn't Long on ATA just now ... I moved on ever since I saw another post about not sticking to whale coins ... but still keep an eye on this as a test simulation of the possibility making it big on the back of a whale
$ATA sitting at .1770 at the moment .... now if the past patterns were any good an indicator of what's about to happen, I'd say this coin is about to go down now to under .17 ... but then, when is the past ever a good predictor of future performance ...
$ATA is at least good for short range trading even if you can't wait for the big whale in the sky to drop by and lift things up ... right now between 16.4-17.0
$ATA There's really nothing to say about this coin t he moment ... the past half hour looks like only bots trading with each other ... if you're in already, the wait continues, if you're on the outside, probably look elsewhere
$ATA Finally the shorts lost some steam.... having done so even below .16 is probably a little worrisome now that the coin has shown a little green movement. Fingers crossed.
$ENA Another coin with extremely low percentage in circulation ... will remain risky for a very long time ... may be ok for short calculated up or down sweeps but I'd be afraid to stick for too long with it
$ATA The way I see it (possibly a little late), given there is still a large portion of coins not in circulation, no wildfire utility of the token, and decreasing market capitalization, this coin does not have an upward trajectory in the long run. Short sellers will profit the most. Any steep or quick acents are simply unpredictable.