RiskyBeardo

📉 Bounce (AUCTION) is showing all the signs of a classic whale manipulation! The price pumped from $49 to $64, forcing shorts to pay insane funding fees, but don’t be fooled—a big crash is coming!

🔍 Why AUCTION Might Be a Scam Pump:

❌ High negative funding rates – Whales are trapping shorts before a dump.

❌ Artificial price surge – Pumping liquidity to attract more buyers.

❌ Low real trading volume – Only insiders profiting while others get liquidated.

📊 What’s Next?

⚠️ Once whales unload, AUCTION could collapse fast—expect a huge sell-off soon!

⚠️ Support at $55-$56 might break, leading to a sharp drop.

⚠️ Don’t get trapped! Be cautious before entering any positions.

🔥 Do you think AUCTION will dump hard? Comment below! 👇

$AUCTION #ETFWatch
#CryptoScam #AUCTION #WhaleManipulation #Binance #ShortSqueeze #cryptocrash

🔍 Market Overview

Bounce (AUCTION) has seen significant price action recently, surging from $49 to a high of $64.3 before retracing to $58. This sharp increase has led to high negative funding rates, suggesting an overwhelming number of traders are shorting the asset.

However, such extreme short positioning raises concerns about a potential short squeeze, where forced liquidations could drive the price even higher.

📊 Key Technical Indicators

🔸 Support Levels: $55 - $56

🔸 Resistance Levels: $64 - $65

🔸 Funding Rate: Extremely negative (shorts are paying longs)

🔸 RSI: Previously overbought (>70), now stabilizing

📈 Short Position Concerns

Traders holding short positions from $49 (including myself) are facing increasing losses, as funding fees are very high and eating into profitability. If the market structure remains bullish, there is a high chance of:

✔ Short squeezes pushing the price past $64

✔ More forced liquidations, fueling further upside

📌 Trading Strategy – Hedging with a Long?

Given the current market sentiment, a partial hedge using a long position could be beneficial to balance short exposure. Here’s the plan:

✅ Open a small long position to hedge losses from the short.

✅ Place a stop-loss below $55 in case of breakdown.

✅ If price reaches $64-$65, reassess whether to close both trades or let the long ride.
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⚠️ Risk Management & Final Thoughts
If AUCTION fails to break $64, a short opportunity may open up again.
If it breaks above $65, the rally could continue, making longs more profitable.
Monitoring funding rates is key—if they start normalizing, the bullish momentum may slow down.
🚀 Stay alert for rapid price movements and trade wisely!
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#CryptoTrading #AUCTION #Binance #ShortSqueeze #BounceToken

Dogecoin's (DOGE) ongoing price action mirrors 2020 fractals that saw its price explode by more than 15,800% to a record high of $0.76 in just six months.
Dogecoin price trend in 2024 vs. 2021
The Dogecoin chart fractal below highlights the similarities between DOGE's ongoing price performance and those recording after the completion of the 2018-2020 bear market.
For instance, in 2018-2020, Dogecoin experienced a prolonged sideways movement within the $0.0012 to $0.0056 range. This phase occurred at the chart’s base levels, between the 0.236 and 0.0 Fibonacci retracement lines, underlining a period of relative market equilibrium with low volatility.
DOGE/USD weekly price chart. Source: TradingView
Mirroring the earlier consolidation pattern, Dogecoin has — once again — entered a consolidation phase, but at a higher price range between $0.055 and $0.181. Interestingly, these new bounds also align with the 0.236 and 0.0 Fib retracement levels, respectively.
The current attempt to surpass the 0.236 Fibonacci threshold is akin to the breakout observed in the previous cycle, which may indicate a significant shift in market sentiment if the price sustains above this level, currently at $0.181.
Dogecoin fundamentals 2020 vs. 2024
Fundamentals such as quantitative easing played a key role in sending Dogecoin prices up by more than 15,800% in 2020. Interestingly, the memecoin market is witnessing similar catalysts in 2024 as it attempts to break above its 0.236 Fib line resistance.
Rate cuts potential in 2024
In 2020, Dogecoin's price surged past its 0.236 Fibonacci level, partly fueled by increased cash liquidity resulting from the U.S. Federal Reserve's policy of lowering interest rates.
Likewise, Dogecoin's current efforts to breach the 0.236 Fibonacci threshold coincide with the anticipation of three potential interest rate cuts in 2024.
Source: X Altcoin boom after Bitcoin halving
Dogecoin’s 2024 price trends draw further similarities from the 2020 fractal due to the occurrence of Bitcoin halving, events that halve the reward for mining new blocks.
Remarkably, following Bitcoin's third halving on July 11, 2020, Dogecoin's price surged by an astonishing 34,300%.
DOGE/USD weekly price chart. Source: TradingView
Similarly, after Bitcoin's second halving, Dogecoin experienced a rally of over 6,350%, showcasing its potential for delivering high returns to investors seeking opportunities in alternative cryptocurrencies after halvings.
Related: Bitcoin halving hype: How retail investors can prepare
Bitcoin’s fourth halving will happen around April 19-20, following which Dogecoin’s price may explode if the history is any indication.
The return of Elon Musk
Elon Musk's active and public support of Dogecoin during 2020 and 2021 played a crucial role in its dramatic price increases while elevating its ranking among the top cryptocurrencies. Now, in 2024, the billionaire entrepreneur is eyeing a move toward integrating DOGE into mainstream platforms.
For instance, on March 14, Musk said his electric vehicle company, Tesla, could add DOGE payments for purchasing cars at some point in the future.
Source: X
Furthermore, Musk’s “everything app” X (previously known as Twitter) established an XPayments account for its forthcoming payment functionality. There’s a growing expectation that the X app will roll out in-app payment capabilities by mid-2024, which may include cryptocurrencies like Dogecoin.
Dogecoin technical analysis
Technically, Dogecoin’s weekly relative strength index (RSI) has crossed above 70, an overbought zone, which raises its potential to enter a correction or consolidation phase in April.
DOGE/USD weekly price chart. Source: TradingView
Nonetheless, a clear breakout above the 0.236 Fib resistance could send DOGE's price toward the 0.382 Fib line at around $0.26 by April's end. That is up approximately 35% from current price levels.  
Conversely, a decisive pullback from the 0.236 Fib line risks bringing Dogecoin's price toward its 50-week exponential moving average (50-week EMA; the red wave) at around $0.095, down about 48% from current prices.
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision. #doge #HotTrends #ElonsMusk #DogecoinFever $BTC