This afternoon, I shared my views on $MOVE with my colleagues in the organization.
It now looks like it's forming a cup-and-handle pattern. According to technical analysis knowledge, we can predict its target price based on the height from the bottom of the cup to the top, roughly at a 1:1 ratio, which could be around 2.2.
But whether it can really reach that depends on whether the market shows any support, because technical analysis is like guessing what's in the left pocket; we need to be cautious and not too aggressive.
My current strategy is to first see if it can break through the resistance level of 1.4. If it can't make it, I'll wait and see if it pulls back before entering. If it breaks through, I'll look for signals on when to sell. If I’m not greedy, I can sell in batches before it hits 2.
Recently, the market seems to be warming up a bit, but $BTC is still stuck around 98000, and the trading volume has decreased. There might be another wave of decline coming, clearing out the leverage.
However, I still say, be conservative and wait. Spot trading requires patience, and we should try to minimize our actions.
As for the upcoming layout direction, I will lead everyone to aim for the lucrative opportunities in altcoins, with an expected upside of over 10 times being reasonable. Like and leave a message, and I'll take you through the entire bull market layout!