Why did HIGH coin plummet 50% in two days? Revealing the trading techniques of HIGH coin dealers

1. Project Introduction

Token Name: HIGH

Section: Metaverse, Game

Introduction: Highstreet (HIGH) is an open world game through its Metaverse The platform provides money-making MMORPG games with shopping and gaming experiences. Users can participate in in-game activities, such as tasks, social activities, etc., to earn tokens, improve rankings, and obtain NFT

Project financing: US$5 million (AMB, Binance Labs led the investment)

2. Revealing the trading techniques of HIGH coin dealers

##1.HIGH started the rising mode in mid-April this year and continued to rise during this period, showing the characteristics of long rising time, large amplitude, small correction, etc.!

As the price rises, all boats rise. In terms of contracts, as prices rise, contract positions continue to increase and reach a new high this year! It rose from 2.15u in mid-April to 9.8u in early June, an increase of 351% after 53 days.

Contract positions continued to increase during the rise, proving that the main institutions continued to increase their long positions. According to Figure 3, we can see , before the price reaches the highest price, the main force has already closed long positions and established short positions in advance, and established short positions at higher prices before the price reaches a new high. In recent days, HIGH has fallen by more than 50% in just two days, but it is so large The decline, the amount of liquidated positions does not seem to be much, which once again shows that HIGH is mainly the participants who are the main players of the institutions, these are the forces that can determine the direction!

According to Figure 1, it can be seen that HIGH bookmaker trading is more common and the traces of trading are more obvious. In the process of a wave of rise, the early and middle stages of the rise are often accompanied by small yin and small yang lines, even if there are major adjustments in the middle It’s not enough to change the trend!

So, how to judge whether HIGH has peaked? As shown in Figure 1, when a currency peaks, it will often accelerate its rise, with greater intensity and space than before, creating an atmosphere of a "main rise" bull market. Feelings of danger, but little do they know that danger is coming quietly!

After rising high, it fell back. The K-line pattern formed a bearish pattern of yin and yang. Then you can see that it did fall back and fell below the short-term main support level. However, it is not the best short selling point at this time. , if you establish a short position here, you will face the risk of a short squeeze, because often this kind of weird altcoin will rise twice or three times after falling, and the second and third times will rise. The rising high point can exceed the first high point. These methods are often used by the main force!

If you don’t have enough experience to identify these illusions, then it will be difficult for you to survive in the market for a long time, because the financial market is filled with a lot of illusions. If you don’t have good interpretation skills, then You will eventually be eliminated from the market!

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