Understanding of SUI fundamentals:
Currently, it ranks 23rd in the cryptocurrency market value ranking and second in the Layer 1 sector. Its market value has surpassed APT, which is also listed in the same sector. Participating investment institutions include B An (the world's first exchange), A16z (the world's top venture capital institution), FTX Ventures, Grayscale (the world's largest cryptocurrency investment institution) and other sector giants. SUI has a total issuance of 1 billion tokens, and currently has 280 million tokens in circulation. The initial financing amount is 336 million US dollars. There are two types of unlocking atmospheres: 1. Linear unlocking, unlocking nearly 600,000 tokens per day, with a value of over one million US dollars; 2. Regular succession unlocking, regular monthly unlocking, the next time will be unlocked at 8 am on November 1, Beijing time, 64.19 million tokens will be unlocked, with a value of approximately 116 million US dollars, accounting for 2.32% of the current total circulation value.
Since Grayscale officially announced the establishment of two new single-asset crypto investment funds on August 7, which was simply to support TAO and SUI, SUI has increased 5.1 times in just two months.
Finding opportunities and understanding risks in the last bull market: (See the figure below for details)
Opportunity: Starting from September 2023, it will enter the bottom shrinking adjustment stage, the overall price fluctuation is small, and the trading volume below is reduced. After hitting a new low on October 19 of the same year, it began to rise slightly. On October 24 of the same year, it began to rise slightly with large volume. The dealer's purchase of chips has obviously increased several times compared with the previous two months. A new round of crazy bull market has begun again!
Risk: Spot/Heyue
Spot: When the currency price reaches a certain height, the overall increase in the recent period will shrink, the center of gravity of the K-line will enter a flat state, and the overall oscillating upward trend in the previous period will be transformed into large up and down fluctuations. The rising channel will be doubly destroyed, and the currency price will enter a dangerous zone, which is the delivery stage of the dog dealer.
Characteristics of the danger zone: (Characteristics of the shipping area)
1. The center of gravity of the K-line remains flat, and the overall price of the currency remains at a high level, forming a clear top and bottom;
2. The trading volume below continues to increase;
3. The frequent trading volume of the dog dealer caused the daily K-line to have large up and down spikes;
Heyue: The opportunities for short selling at high positions increase, but the risks are relatively high. It is not difficult to see from the K-line trend in the above figure that the risks of short selling are also extremely high. The irregular up and down pins at high positions can easily cause short positions to be held by nephews and grandchildren or even blow up. Especially those who cannot control their desires, like to chase ups and downs, and win small profits and lose big capital. At the same time, the opportunities are also very large. Only players who are good at grasping the top position of the recent box shock and have strong restraint can have the opportunity to eat big meat!
How to seize opportunities at this stage?
SUI: This time the bull market started to rise from the 0.8 position and went through a 3-fold market. Many friends who bought in during this process also received very generous returns. On the contrary, some conservative friends missed this wave of Lafite again and again. Missing the opportunity to buy high, the opportunity to short also comes! (See the figure below for details)
Small-scale short-selling opportunities: (Detailed explanation of the recent decline and prediction of the subsequent decline trend)
The first wave: Breaking through the 2.2-2.36 high box oscillation bottom 2.2 position, start to try to short. At this time, the trend has not changed to a short trend, so it can only be done as an attempt, and the nephew looks at new highs;
The second wave: From falling below 2.2 to around 2, it began to enter the second box oscillation range of 2-2.15. Three surges to around 2.15 were followed by declines. The second wave of bearish opportunities was formed at the 2.15 position and stopped falling around 1.9.
The third wave: The second box oscillation (2-2.15) will form the high point of the third wave of decline near the bottom 2, and then it will rebound near 1.6, forming a new top position at 1.8-1.85;
The fourth wave: The first rebound was around 1.85, the second peak was around 1.8 and the decline started yesterday, and the price rebounded around 1.65 again;
Future trend forecast:
Post-operation summary:
Judging from the daily level trend in the above figure, it is currently in the tail stage of the third wave of the oscillating decline. The daily K-line trend is relatively healthy and regular, and it is not as irregular as the trend in February and March. From the break of $2, the bearish signal is very obvious, and it is in an oscillating downward channel as a whole. The $1.6 position below is the bottom position that has been explored many times during the rise at the end of September. At this stage, it is relatively clear as a support position. There are two pins at this position in the past two days, and there is a large rebound space. From the staged decline above, it can be seen that the upper pressure is more obvious at the 1.8-1.85 position, which is relatively safe for bearish. As for the nephew, you can refer to the top position of the box!
Through the above comprehensive explanation of SUI and the analysis of the market conditions at each stage, many friends have already had a certain understanding of this. As for the detailed entry and exit strategies, you are welcome to send a private message to get it!
The cryptocurrency market is highly volatile, so be cautious when entering the market. This is my personal opinion, not a recommendation, just for sharing
