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Today I want to talk about the recently popular AGT coin. Since last night, the AGT price has been continuously rising, which is not uncommon in the Crypto Assets market. Usually, this pump trend lasts until around 9 or 10 in the morning. However, when the price falls afterwards and fails to recover quickly, it indicates that there may be abnormalities in the market.
Based on this judgment, I chose to close my position at 1 PM. However, I did not immediately adopt a short strategy, which could be a missed opportunity decision.
So, how can we determine if a coin is undergoing a 'scam run' operation? First, we need to follow the overall market trend. For example, the overall market shows a falling trend today. Secondly, we should carefully observe the process of price rise. AGT has been rising continuously since last night, with almost no time for fluctuations or adjustments in between.
Typically, the main funds will adopt a specific strategy when accumulating: first, there is a large bullish candle, followed by several hours of slight fluctuations, presenting an alternating pattern of small bearish and bullish candles. The key point is that this fluctuation will not break through the position where the large bullish candle started to rise. It is clear that the movement of AGT does not conform to this pattern, thus it can be determined as a pump and dump behavior.
Looking ahead to next week, altcoins are likely to experience a wave of pump. I plan to open a position and will provide a detailed analysis at that time to help everyone better understand market trends.
However, I want to remind you that the Crypto Assets market is full of both risks and opportunities. Investors should make cautious decisions when participating, fully assess the risks, and not blindly follow others' investment advice. Maintaining rationality and independent thinking is the key to long-term survival in this market.