Huobi Token (HTUSDT) is entering a new cycle after breaking out of a major downtrend.
This downtrend went on for 546 days and seems to be at its end.
We can see the weekly candle now challenging MA200 at $6.7795. Moving and staying above this level would definitely put the bulls in control of this chart.
After this level is conquered all bets are off.
Looks like Huobi Token is getting ready to start a new uptrend; a new cycle... Long-term growth.
Note: Confirmation is still needed... The bullish cycle is getting close though.
If you ask me, some of these low volume coins are pumped in bear trends to:
A) Create something exchange customers can trade with a up trend. B) Something the n00b retailers can fomo into and lose their money as a result = exchanges & manipulators & whales making a killing.
We are talking about many millions that these players make on stunts of manipulation like this every single coin they do it on. On a yearly basis 100's of millions imo.
Confucius-The-Great
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Thanks for sharing as always.
Great find.
On the weekly it looks like the bottom is in for this coin....but it must be pure manipulation/speculation because: 1) BTC is full bear mode. 2) ETH same pretty much with a little ETH 2.0 hype going...exit liquidity for big ETH whales. (A) I would also have sold my long term bags now Exchanges control ETH, B) Vitalik has gone on pension with a few tweets here and there (bribed/threatened by the world elite ofc)). 3) Huobi token is just a "stupid" crypto used for trading fees I must assume.
To the point: I can't believe it will be long lived. All charts would look long term bullish if they were pumped like that. It is a dumb "rock". It can't be the crypto leading the crypto market out of the bear market either.
Namaste always!