Even in hindsight, I don't believe my prior reasoning was necessarily correct; at least there was a significant element of luck involved. However, the process was quite interesting, so I’d like to share it with everyone. Let’s take a look at a story 🤪～

I don't really understand what $DOLO itself is about. This time, the decision to increase my position mainly depended on the factors from my previous purchase and pure technical analysis and market sentiment.

Here’s the complete context:

Before DOLO was listed on Binance's spot market, someone mentioned that their co-founder Corey Caplan was an advisor for $WLFI, which was seen as a major positive, so I quickly increased my position. Therefore, I paid attention to this coin. I felt that it had already risen significantly in multiples, so I considered it a short-term high point and didn’t chase it for the time being, but I saw many people pushing it up. Later, when it was listed on Binance's spot market, I saw news that Corey Caplan was no longer an advisor for WLFI and had become the CTO. However, the coin price kept falling. At this point, there were market rumors that the project’s associated addresses were transferring large amounts of coins to Binance. Because the price was continuously dropping, it was believed that the project team had a poor outlook and was continuously offloading. The short-term on-chain multiples were relatively high, and there was a double positive (advisor ➤ CTO + listing on Binance's spot market), so liquidity was definitely good, especially suitable for offloading. But the market cap was not high, and the co-founder had just announced he was the CTO of WLFI (I wasn't sure if it was just announced; this was how it was described when I saw the news), so I leaned towards this being a case of offloading and washing out, rather than just offloading. In fact, whether it was offloading is hard to define; it could be offloading or a kind of smokescreen washout, or perhaps they had already set up short positions (Binance had already listed the contracts), and double profits were also uncertain. At this point, I saw that it was nearing a previous support level and started to enter. After buying, it dropped a bit more, then rebounded and continued to build a bottom (short-term bottom), and then shot up directly. I was really lucky; I sold again at a short-term high.

When it dropped to this support level again, I bought in once more, constrained by WLFI (after all, it’s also from the same group), and it continued to drop. The question I faced at this point was whether to stop-loss, hold on, or increase my position? WLFI barely had a support level, the lowest point from the first drop, but it was not a reliable reference. DOLO had a support level from an upward attack and pullback in August, and I thought this position could serve as a support level, combined with the factors from my first purchase, so I placed a positive pyramid limit order to buy. If I was wrong, I would cut my losses. Fortunately, I guessed right! Why was it lucky? Because later WLFI blacklisted many addresses, reducing others' offloading (they must have offloaded quite a bit themselves), and it stopped falling and started to rise again… but I thought this buy (I was doing short-term trading) was average because buying WLFI would yield better returns.

In summary, it’s a combination of reflexivity in speculation and good luck ~

免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。