Down 30% in a day—this waterfall chart for $QUICK has left me absolutely stunned.
It plunged from 0.0096 to 0.0066, a full 31%. The worst off aren’t the spot holders, but the ones who tried to buy the dip and go long halfway down. Every little bounce gets smacked back down. Trying to catch a bounce in a market like this is just volunteering to be exit liquidity. 24-hour trading volume is only $1.6 million. With liquidity this thin, one slightly larger order can send the price crashing straight through the floor. During a waterfall, slippage can make you regret ever using a market order.
There’s just one lesson: with coins this illiquid, don’t chase a huge pump or try to catch a huge dump. If you’re really itching to buy the dip, watch one level: 0.0065, today’s low. If it breaks, that means there’s no support below—turn around and get out. Don’t get your hopes up.
When you come across a coin crashing like this, do you blacklist it immediately, or can you not resist trying to buy the dip?
Not investment advice. DYOR
#爆仓 #Altcoins
It plunged from 0.0096 to 0.0066, a full 31%. The worst off aren’t the spot holders, but the ones who tried to buy the dip and go long halfway down. Every little bounce gets smacked back down. Trying to catch a bounce in a market like this is just volunteering to be exit liquidity. 24-hour trading volume is only $1.6 million. With liquidity this thin, one slightly larger order can send the price crashing straight through the floor. During a waterfall, slippage can make you regret ever using a market order.
There’s just one lesson: with coins this illiquid, don’t chase a huge pump or try to catch a huge dump. If you’re really itching to buy the dip, watch one level: 0.0065, today’s low. If it breaks, that means there’s no support below—turn around and get out. Don’t get your hopes up.
When you come across a coin crashing like this, do you blacklist it immediately, or can you not resist trying to buy the dip?
Not investment advice. DYOR
#爆仓 #Altcoins