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Based on the rise and pullback amplitude of BSB, the market makers' current strategy leans more towards a dual-sided approach, meaning they won't push past the previous high in the short term, nor will they liquidate and run away.
However, just by observing the recent liquidation situations of BSB, it's not hard to see that the main target of the market makers' suppression is the bears, and clearing out the bulls seems more like preparing for a subsequent rally.
Combining the trend of BSB over the past month, I always feel that it will continue to fluctuate upward in a sideways pattern.
Some say it will break above $1, and in my opinion, this is not an unfounded claim.
There are countless cryptocurrencies in the market; although they are in different sectors and backed by different project teams, the core manipulation techniques are fundamentally similar.
Most of the time, we can see the same outcome in one coin as in another.
For example, when PIPPIN and RIVER caused a stir, many people used COAI and MYX as cautionary tales, taking their history of sharp rises and falls as the main basis for shorting the former.
The facts have proven they were right; even if the process was somewhat bumpy, at least the direction was accurate.
Back to BSB, there are also assets in the market that can serve as reference points, with LAB and VVV being the most typical.
I believe many friends are not unfamiliar with these two coins; comparing them with BSB reveals that the market manipulation techniques of these market makers are extremely similar.
Similarly, they have increased several times from the bottom, experienced dual-sided trading at certain stages, and maintained a long-term oscillating upward trend…
As similar assets, I don’t expect BSB to surpass them; at least it needs to be on the same level to meet expectations.
Currently, the circulating market cap of LAB and VVV is about $300-400 million, while BSB has just crossed the $100 million threshold.
From a reference perspective, BSB has some room for growth.
Moreover, since the market makers have been positioning for so long, I don’t think they will stop here.
If BSB can break above $1, then everything will be just right.
$BSB