Crypto News
October 8 Highlights:
1. According to The Block: Government shutdown hinders the approval process for HBAR and Litecoin ETFs.
2. DCG subsidiary Yuma appoints TradeBlock co-founder as executive.
3. SharpLink's cumulative staking earnings reach 4,723 ETH, with an additional 451 ETH added last week.
4. Bybit: The abnormal fluctuations of SERAPHUSDT are due to a sudden drop in liquidity; the system is operating normally.
5. EPHYRA secures a $2 million strategic investment, with a valuation of $100 million, accelerating its AI entertainment ecosystem layout.
Trading Insights
Sharing how to identify major players' wash trading to avoid being "washed out."
Core Definition of Wash Trading: Major players manipulate the market for profit by clearing excess floating chips and raising the overall holding cost, forcing weak-willed retail investors to sell at low prices while profiting from high sell and low buy trades to cover subsequent lifting costs. Note: The cryptocurrencies involved often have fundamental support, and after significant capital intervention, they usually undergo severe wash trading, continuing to wash during the upward movement.
Three Typical Wash Trading Techniques:
"U" Shaped Wash Trading
- Purpose: Use intraday candlestick patterns to wash out profit-taking positions.
- Characteristics: The coin price is in an upward channel, with reduced trading volume and locked chips, showing "high open - low drop - then close high" on intraday charts.
- Order Book: Large orders break through key levels, small orders are not densely traded, and large orders are placed but not executed.
Arch Shaped Wash Trading
- Purpose: Create a false impression of a price surge to wash out trapped positions.
- Characteristics: The coin price is at a previous neckline, with increased trading volume during the untrapping phase, showing "low open - high rise - then low close" on intraday charts.
- Order Book: Small orders push the price up, large orders push it down (scaring out profit-taking positions), with both buying and selling being small orders.
Composite Wash Trading ("U" Shaped + Arch Shaped)
- Timing: When the coin price starts to rise and needs to break through significant resistance levels.
- Purpose: Simultaneously wash out profit-taking and trapped positions.
- Order Book: Large orders placed at buy 3-10 and sell 3-10, frequent pressure on both sides, with large orders placed but not executed or executed in the air.
LIFE IS LIKE
A JOURNEY ▲
Below are the real trading signals from the Big White Community's trading group this week. Congratulations to the friends who followed along; if your trades are not going well, you can come and test the waters.
Data is real, and each trade has a screenshot from the time it was issued.
**Search for the public account: *Big White Talks About Coins*
BTC
Analysis
Bitcoin's daily line fell from a high of around 125,100 to a low of around 120,500 yesterday, closing around 121,300. The support level is around 120,000; if it breaks, it could drop to around 118,450. A pullback can be used to buy near this level. The resistance level is around 123,300; if it breaks, it could rise to around 124,600. A rebound near this level can be used to sell. MACD shows a decrease in bullish momentum. The four-hour support level is around 120,300; if it breaks, it could drop to around MA60. A pullback can be used to buy near this level. The resistance level is around MA30; if it breaks, it could rise to around 124,450. A rebound near this level can be used to sell. MACD shows an increase in bearish momentum.
ETH
Analysis
Ethereum's daily line fell from a high of around 4,755 to a low of around 4,425 yesterday, closing around 4,445. The support level is around 4,340; if it breaks, it could drop to around 4,230. A pullback can be used to buy near this level. The resistance level is around 4,585; if it breaks, it could rise to around 4,720. A rebound near this level can be used to sell. MACD shows a decrease in bullish momentum. The four-hour support level is around MA30; if it breaks, it could drop to around MA90. A pullback can be used to buy near this level. The resistance level is near the MA7 moving average; if it breaks, it could rise to around 4,605. A rebound near this level can be used to sell. MACD shows an increase in bearish momentum, forming a death cross.
Disclaimer: The above content is personal opinion and for reference only! It does not constitute specific operational advice and does not bear legal responsibility. Market conditions change rapidly, and the article has a certain lag. If you have any questions, feel free to consult.
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