Crypto Circle News
September 14 Hot Topics:
1. Shibarium bridge suffers a "complex" flash loan attack, resulting in a loss of $2.4 million.
2. Ethereum Foundation develops an end-to-end privacy roadmap, including private writing, reading, and proof.
3. Derive co-founder proposes to increase the DRV token supply by 50%, diluting holders' equity by 33%.
4. According to Coinglass data: $438 million liquidated across the network in the past 24 hours, mainly from short positions.
5. USAT official statement: Not a legal tender in the United States, not insured by any government agency.
Trading Insights
Sharing how to identify major players' wash trading to avoid being "washed out."
Core Definition of Wash Trading: Major players profit from speculation by clearing excess floating chips and raising overall holding costs, 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 capital intervention, they usually undergo severe wash trading before continuing to rise.
Three Typical Wash Trading Techniques:
"U" Shaped Wash Trading
- Purpose: Use intraday candlestick bearish patterns to wash out profit-taking positions.
- Characteristics: The coin price is in an upward channel, with reduced trading volume and well-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 rising prices to wash out trapped positions.
- Characteristics: The coin price is at a previous neckline, with increased trading volume during untrapping, showing "low open - high rise - then low close" on intraday charts.
- Order Book: Small orders push prices up, large orders push prices 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 important 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 group orders from the Big White Community 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 order has a screenshot from the time it was issued.
**Search for the public account: *Big White Talks Coins*
BTC
Analysis
Bitcoin's daily line fell from a high of around 116,250 to a low of around 115,050 yesterday, closing around 115,850. The support level is near the MA7 moving average; if it breaks, it could drop to around MA30. A pullback can be bought near 117,500; if it breaks, it could rise to around 120,000. A rebound to the vicinity can be used to short. MACD shows bullish momentum. The four-hour support level is near MA30; if it breaks, it could drop to around MA60. A pullback can be bought near this level. The upper pressure level is around 117,350; if it breaks, it could rise to around 118,250. A rebound to the vicinity can be used to short. MACD shows bearish momentum, forming a death cross.
ETH
Analysis
Ethereum's daily line fell from around 4,770 to a low of around 4,605 yesterday, closing around 4,670. The support level is near the MA7 moving average; if it breaks, it could drop to around 4,325. A pullback can be bought near this level. The upper pressure level is around 4,785; if it breaks, it could reach a new high. MACD shows bullish momentum, forming a death cross. The four-hour support level is around 4,610; if it breaks, it could drop to around MA30. A pullback can be bought near this level. The upper pressure level is around 4,755; if it breaks, it could rise to around 4,860. A rebound to the vicinity can be used to short. MACD shows a decrease in bullish momentum, indicating signs of 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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