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$EIGEN (Please don't skip this post, they don't want you to read this).
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Share it with maximum retailers to save them.
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The recent 12% surge in the price of #Eigen token could be a classic example of market manipulation, where larger operators are potentially driving up prices to entice retail investors.
With million of tokens, valued at approximately $9 million, set to be unlocked in the coming week, the sudden rise seems to serve as a lure for retail investors to buy at inflated prices. As these tokens flood the market, the circulating supply will increase substantially, likely driving the price downward. Larger players, anticipating this supply surge, may use this opportunity to sell their holdings at high prices, leaving retail investors exposed to potential losses.
Moreover, while EigenLayer promotes itself as a promising restaking protocol on Ethereum, its long-term viability remains questionable. The project faces stiff competition in the staking space, and its relatively unproven infrastructure may struggle to maintain long-term interest.
Retail investors should be cautious, as the price may drop significantly after the unlock, leaving those who bought in at higher prices vulnerable to steep losses. This event could mirror similar outcomes from other token unlocks, where short-term surges were followed by dramatic price corrections.
Let's follow if you also trade $BTC $DIA
#WeAreAllSatoshi #EIGENonBinance #BTCUptober #cryptonews #MarketExperts
..........
Share it with maximum retailers to save them.
..........
The recent 12% surge in the price of #Eigen token could be a classic example of market manipulation, where larger operators are potentially driving up prices to entice retail investors.
With million of tokens, valued at approximately $9 million, set to be unlocked in the coming week, the sudden rise seems to serve as a lure for retail investors to buy at inflated prices. As these tokens flood the market, the circulating supply will increase substantially, likely driving the price downward. Larger players, anticipating this supply surge, may use this opportunity to sell their holdings at high prices, leaving retail investors exposed to potential losses.
Moreover, while EigenLayer promotes itself as a promising restaking protocol on Ethereum, its long-term viability remains questionable. The project faces stiff competition in the staking space, and its relatively unproven infrastructure may struggle to maintain long-term interest.
Retail investors should be cautious, as the price may drop significantly after the unlock, leaving those who bought in at higher prices vulnerable to steep losses. This event could mirror similar outcomes from other token unlocks, where short-term surges were followed by dramatic price corrections.
Let's follow if you also trade $BTC $DIA
#WeAreAllSatoshi #EIGENonBinance #BTCUptober #cryptonews #MarketExperts
$DIA Well as most of you must be aware of this is the best performing coin in the last 24 hours (almost up by 50%).
This raises suspicions of manipulation. In response, I took a short position at a higher level (0.897), expecting the price to stabilize once the hype dies down. My strategy here is straightforward: with a 1x leverage, Iâm not exposing myself to unnecessary risk, allowing me to withstand small price swings without triggering my stop-loss.
The position remains open as I monitor market movements. This conservative approach offers flexibility, as minor fluctuations wonât impact my overall plan. Once the market cools and the artificial boost fades, Iâll aim to book my profits.
Manipulative price actions are often short-lived, and timing is key in this scenario. By shorting at the peak and staying patient, I believe I can benefit from the market correction, all while minimizing the risk of sudden losses. Itâs a waiting game, but one that favors the well-prepared trader.
If you think similarly please do follow so that i can share more updates about other coins such as $EIGEN $BTC
This raises suspicions of manipulation. In response, I took a short position at a higher level (0.897), expecting the price to stabilize once the hype dies down. My strategy here is straightforward: with a 1x leverage, Iâm not exposing myself to unnecessary risk, allowing me to withstand small price swings without triggering my stop-loss.
The position remains open as I monitor market movements. This conservative approach offers flexibility, as minor fluctuations wonât impact my overall plan. Once the market cools and the artificial boost fades, Iâll aim to book my profits.
Manipulative price actions are often short-lived, and timing is key in this scenario. By shorting at the peak and staying patient, I believe I can benefit from the market correction, all while minimizing the risk of sudden losses. Itâs a waiting game, but one that favors the well-prepared trader.
If you think similarly please do follow so that i can share more updates about other coins such as $EIGEN $BTC
How I Turned My Trading Losses Around by Mastering Breakout Trading
#MyFirstSquarePost New to Binance Square, thrilled to share and connect with everyone here! $EIGEN $BTC
When I return to binance after sometime and my previous experiences have not been so great.
In my early days of trading, I was no stranger to losses. Like many beginners, I jumped into the markets without a solid strategy, thinking that profits would come easy. My primary mistake? Ignoring the crucial role of support and resistance levels, and not having a structured approach to trading. But that changed when I began to dive deeper into the technical side of trading, and most importantly, when I adopted breakout trading.
Early Struggles and Losses
$
When I started trading, I was primarily involved with the BTC/USDT and now even in Eigen/USDT pairs. I was constantly getting caught in the marketâs ups and downs, buying high, selling low, and losing money. The root of my problem was a lack of structure. I didnât pay attention to key levels in the market that indicated potential reversals or continuations. Without a proper strategy, I was essentially guessing where prices would move, leading to a string of avoidable losses.
The Turning Point: Support, Resistance, and Breakouts
I knew I needed to overhaul my approach to avoid repeating the same mistakes. Thatâs when I discovered the power of support and resistance levels. These are price points that the market respects over time â support being a price level where an asset tends to stop falling and resistance being a price level where it tends to stop rising.
By analyzing historical price action and identifying these levels, I could begin to anticipate market behavior more effectively. But I didnât stop there. I learned about breakout trading, a strategy that revolves around trading the momentum created when the price breaks out of these key levels.
My Breakout Trading Strategy
Breakout trading is a simple concept, but it requires patience and discipline. Hereâs the step-by-step strategy I follow:
1. Identify Key Support and Resistance Levels: Before entering any trade, I spend time marking the most significant levels on the chart. These could be previous highs or lows, or areas where price had bounced off multiple times.
2. Wait for the Breakout: Rather than trying to predict a breakout, I wait for confirmation. When the price breaks through a key resistance level, it indicates a potential upward trend. Conversely, when it breaks through support, it often leads to a downward trend.
3. Use Volume as Confirmation: A breakout with low volume is often a false signal. I ensure that there is a surge in volume when the breakout happens, which increases the likelihood of the trend continuing.
4. Set Stop-Loss and Take-Profit Levels: Discipline is key in breakout trading. I set a stop-loss just below the support level in a breakout upwards and above the resistance in a downward breakout. This minimizes my risk. Additionally, I determine my take-profit level based on the distance between support and resistance levels.
5. Follow the Trend, Donât Fight It: Once a breakout occurs, I stick with the trade as long as the trend remains strong. Instead of jumping in and out based on emotions, I allow the market to follow through, using trailing stops to lock in profits.
The Results: Higher Accuracy, Better Profits
If you are active #BTCUSDT futures trader, we should certainly connect with each other.
When I return to binance after sometime and my previous experiences have not been so great.
In my early days of trading, I was no stranger to losses. Like many beginners, I jumped into the markets without a solid strategy, thinking that profits would come easy. My primary mistake? Ignoring the crucial role of support and resistance levels, and not having a structured approach to trading. But that changed when I began to dive deeper into the technical side of trading, and most importantly, when I adopted breakout trading.
Early Struggles and Losses
$
When I started trading, I was primarily involved with the BTC/USDT and now even in Eigen/USDT pairs. I was constantly getting caught in the marketâs ups and downs, buying high, selling low, and losing money. The root of my problem was a lack of structure. I didnât pay attention to key levels in the market that indicated potential reversals or continuations. Without a proper strategy, I was essentially guessing where prices would move, leading to a string of avoidable losses.
The Turning Point: Support, Resistance, and Breakouts
I knew I needed to overhaul my approach to avoid repeating the same mistakes. Thatâs when I discovered the power of support and resistance levels. These are price points that the market respects over time â support being a price level where an asset tends to stop falling and resistance being a price level where it tends to stop rising.
By analyzing historical price action and identifying these levels, I could begin to anticipate market behavior more effectively. But I didnât stop there. I learned about breakout trading, a strategy that revolves around trading the momentum created when the price breaks out of these key levels.
My Breakout Trading Strategy
Breakout trading is a simple concept, but it requires patience and discipline. Hereâs the step-by-step strategy I follow:
1. Identify Key Support and Resistance Levels: Before entering any trade, I spend time marking the most significant levels on the chart. These could be previous highs or lows, or areas where price had bounced off multiple times.
2. Wait for the Breakout: Rather than trying to predict a breakout, I wait for confirmation. When the price breaks through a key resistance level, it indicates a potential upward trend. Conversely, when it breaks through support, it often leads to a downward trend.
3. Use Volume as Confirmation: A breakout with low volume is often a false signal. I ensure that there is a surge in volume when the breakout happens, which increases the likelihood of the trend continuing.
4. Set Stop-Loss and Take-Profit Levels: Discipline is key in breakout trading. I set a stop-loss just below the support level in a breakout upwards and above the resistance in a downward breakout. This minimizes my risk. Additionally, I determine my take-profit level based on the distance between support and resistance levels.
5. Follow the Trend, Donât Fight It: Once a breakout occurs, I stick with the trade as long as the trend remains strong. Instead of jumping in and out based on emotions, I allow the market to follow through, using trailing stops to lock in profits.
The Results: Higher Accuracy, Better Profits
If you are active #BTCUSDT futures trader, we should certainly connect with each other.
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