Hi Traders,
A unique moment in market history for sure - overall we are waiting on the next catalyst to send the markets tumbling, but until that point i think we are seeing a final short squeeze beginning.
Wouldn't be surprised to see 23-24k hit on a wick, perhaps it stays there for a slight range or just dumps back, that we can't know.
Seems we may be waiting on the FED's coming rate increases before the market takes another dive, perhaps the narrative of a pivot still remains until the moment literally in which it is not possible as rates are released... Wise from a MM perspective given the greatly imbalanced short/long ratio (heavily to the short side).
So we are reopening some hedge longs to protect capital and gains made from the prior shorts, going with XRP & BTC for the hedges.
I am no going to close out the shorts, just allocation reasonable SL placement to be in-profit and at such a price that if it hits one would think price has locally reversed.
Goodluck,
Asset Mastery
A unique moment in market history for sure - overall we are waiting on the next catalyst to send the markets tumbling, but until that point i think we are seeing a final short squeeze beginning.
Wouldn't be surprised to see 23-24k hit on a wick, perhaps it stays there for a slight range or just dumps back, that we can't know.
Seems we may be waiting on the FED's coming rate increases before the market takes another dive, perhaps the narrative of a pivot still remains until the moment literally in which it is not possible as rates are released... Wise from a MM perspective given the greatly imbalanced short/long ratio (heavily to the short side).
So we are reopening some hedge longs to protect capital and gains made from the prior shorts, going with XRP & BTC for the hedges.
I am no going to close out the shorts, just allocation reasonable SL placement to be in-profit and at such a price that if it hits one would think price has locally reversed.
Goodluck,
Asset Mastery
