2026-01-16 01:22:09

Looking at this wave of market movement, it really makes people a bit fearful. On the surface, it looks like a pullback, but in reality, it's a classic hunting trap.

Recapping the situation this morning: XMR surged rapidly to 691, with a single-day trading volume soaring to 482 million USDT, and a trading volume of 682 million coins—such abnormal volume is typically a sign of wash trading to push the price up, aimed at attracting follow-up traders. However, the good times didn't last long; a large bearish candle cut through the entire chart, causing the price to plummet from 691 straight down to 657.22, a decline of over 5.7%. This is commonly known as "Dark Cloud Cover," a standard method of pushing up and then distributing. Retail traders are simply unable to react in time.

The current situation is very delicate. The price is stuck at 682.5, unable to go higher or lower, but it's only a hair's breadth away from the intraday support level at 657.22. Looking at the rebound pattern, the strength is clearly insufficient, indicating that the bulls' confidence has been almost completely shaken. Once the key level at 657.22 is broken with high volume—personally, I believe it’s unlikely to hold—the area below becomes a vacuum zone. The first target is around 650, and the second target is in the 640-635 old platform zone. If even this area can't hold, then the trend will have completely reversed.

The most critical advice: **Do not try to bottom fish**. Any rebound to the 685-690 range should be seen as an opportunity to reduce positions, not as a signal to chase the rebound.

If the price quickly tests the 657-655 zone, and a clear bullish divergence appears on the 1-minute or 5-minute chart, with volume also shrinking, then you can consider using a very small position (10-20% of your total) to try for a rebound. But this kind of operation is essentially "licking blood at the edge of a knife," and you must set a strict stop-loss below 650. Once it breaks, cut losses immediately—don't entertain any hope of luck.

Another point that is often overlooked: the true bottom is not found through guesswork, but is "walked out" by the market through volume contraction and sideways movement. During sharp declines, risk control is always the top priority. Staying alive is the prerequisite for making money.

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BearMarketBard

· 01-18 16:45

691 to 657, a big bearish candle directly trapped people inside. This is the favorite trick of the big players. Retail investors are still sleepwalking, while the bulls have already been beaten down. If 650 can't hold, it's really going to collapse. Don't dare to gamble on the bottom. At times like this, it's better to reduce positions obediently and not go against the big players. Seeing the rebound lack strength, I knew something was going to happen. I should have listened to the advice earlier.

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ReverseTradingGuru

· 01-16 11:45

691 to 657 in an instant, my heart almost jumped out of my chest It's the same old trick, every time. Are retail investors really here to give away money? I’ve taken the advice not to bottom fish, but I still feel itchy. If 657.22 can't hold, this wave is really going to crash down.

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LiquidatedDreams

· 01-16 04:41

It's the same old trick, directly dropping from 691 to 657, retail investors are truly the bagholders. --- Not bottoming out is the right move, how many people are still waiting at 689 for a rebound? --- It's a vacuum zone, below 650 it might break again. --- The phrase "licking blood from a knife" is used perfectly; essentially, it's gambling. I'm not gambling anymore. --- Risk control first, this phrase should be kept in mind. How many accounts have died due to overconfidence? --- If I can't hold the 657.22 line, I'll just liquidate everything. I'm done playing. --- Consolidating with low volume is the real bottom? How long do we have to wait? It's uncomfortable. --- A rebound between 685-690 should be a signal to sell. I see many people still rushing in, haha.

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SmartContractPlumber

· 01-16 01:52

This trick is the same as a reentrancy vulnerability I audited before. On the surface, the logic seems complete, but in reality, all the backdoors are already set up. If this line 657 can't be guarded, it will indeed be the end, but compared to bottom-fishing, I'm more worried about those brothers who go all-in without proper stop-loss planning.

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SatsStacking

· 01-16 01:50

691 dropped to 657, this wave is indeed a textbook slaughtering move, retail investors can't react at all, the weak rebound shows that the bulls have lost confidence. It's right not to catch the bottom; waiting for a consolidation with reduced volume is the real bottom. Staying alive is more important than anything else.

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MetaverseHobo

· 01-16 01:47

691 drops to 657, this trick is played out. Retail investors are always the last to know, and that's what I hate. Rebound to 690 then sell, don't think about bottom-fishing, those are all scythes.

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ETH_Maxi_Taxi

· 01-16 01:30

Here we go again? Dropped from 691 to 657.22, a textbook example of eating people without leaving bones. I saw it coming long ago. Retail investors really need to wake up. There's nothing wrong with saying don't bottom fish; only by staying alive can you make money. This time, I believe it.

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AltcoinTherapist

· 01-16 01:28

It's the same old trick again. Dropping from 691 to 657 is truly unbelievable. Retail investors' fate as bagholders can't be changed at all.

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