Pokadot turning bearish
With BTC on the road to 10k, I would like to point out some concern with Pokadot that many people over look. It is the rise, yet what got me is CoinMarketCap info on the exchanges.
-Bithumb got raided due to offering a security that was never seen to the investors. Regulation is gonna suck for people trying to stay away from the government.
-Uniswap coins are being pump crazily, which is causing alot of conern in the crypto space.
Now my concern before we get into the chart if you go over to coinmarketcap and click on exchanges and click on liquidity, what do you see? Its pretty alarming, but lets discuss.
-One 3 of the exchanges are own or have connections to huobi. Huobi Global DOT/USDT, HBTC DOT/USDT, and Huobi Global DOT/ BTC . So top 9 exchanges in liquity is own by huobi and their rating under confidence is Low. RED FLAG
-Two 7 out of 9 exchanges have the Moderate to Low confidence to the exchange and 5 out of 9 are scaled to the Low. RED FLAG.
-Three 7 out of 9 exchanges 24hr is 217,853,759, which according to MC is about 37%, yet go top in 24hrs you see a bunch of Low confidence in the exchanges. RED FLAG
This is concerning in overall gives a case and not a lot of confidence in a project that just popped up.
-One there is a trading range between 5.6835-6.4508
-Now to me its heading towards overbought and looks like a divergence with the dropping, yet the price keeps going up. Gives a target (if you believe in this project), a price target of 4.5395. We can’t really go off of VPVR, since someone said they did a stock like split or something.
Seems really risky due to the liquidity problem this coin/token faces and looking at the confidence from coinmarketcap seems very concering. Again I know nothing about this project, yet on a trading and exchange view point it doesn’t look great for me. Plus many people saying we are in an altcoin bubble atm, so take it with a grain a salt. My only tip in altcoins is all in on 0x, speculate on other shitcoins, and buying nano under a dollar is a must cause you know that community will pump it over a dollar.