BEAR TRAP 24,400 - 25,200
We see how the market is divided and many traders don’t know what to do now and how to manage their finances. We want to join the traders community and share our thoughts about the market in several short sentences.
1. We don't think the market has broken and a bullish cycle has begun. The current growth, which started back in December, is a consequence of one big sideways cycle, which started in June, after half a year of falling. We just reached the ATH of the current range
2. The final bull capitulation of the current 3-month growth has not yet taken place and it’s too early to bury all bullish vibes. A very ambiguous March is ahead, which can determine the market for the next six months to a year.
3. The market is heavily pumped with Asian liquidity, but most of the bought and hyped Chinese tokens are from projects that have no background or from long abandoned projects from 2017-2018. This fall is temporary and we think it’ll be until the first piece in the whole chain of dominoes falls.
4. Locally, the bulls and bears now have a 50/50 chance
5. BTC's past drop to 16.5K was based on the market's sensitivity to macro and the FTX drop that continued to “infect” the market. Now there is no thesis or narrative for the fall. US CEX was temporarily able to fend off the SEC, Genesis bankruptcy was quietly accepted by the market, macro data is totally ignored, Paxos and Binance “breakup” slowed down the market for 2-3 days
6. The main thesis of the majority of traders is to go short now in order to show the bulls that they are wrong. Of course there are preconditions for fall and these preconditions are quite rational, but the market is often able to be irrational longer than traders will be solvent
7. For those who are willing to go short: the safest option now is to go short without leverage, or with a small leverage to stay in the market. Just keep in mind that the situation is changing very quickly
8. The main price range for finding shorts is 29,900-30,200
9. The current volatility and activity in the market is ridiculous, most got into their long positions in mid to late January, and they want the music to keep playing
In the near future we’ll see how the situation will change and what will current long positions give us. Share your thoughts about the most controversial and debated topic right now in a crypto community and stay with us for further ideas. Thanks for reading and don’t forget to check the links below and visit our website!
1. We don't think the market has broken and a bullish cycle has begun. The current growth, which started back in December, is a consequence of one big sideways cycle, which started in June, after half a year of falling. We just reached the ATH of the current range
2. The final bull capitulation of the current 3-month growth has not yet taken place and it’s too early to bury all bullish vibes. A very ambiguous March is ahead, which can determine the market for the next six months to a year.
3. The market is heavily pumped with Asian liquidity, but most of the bought and hyped Chinese tokens are from projects that have no background or from long abandoned projects from 2017-2018. This fall is temporary and we think it’ll be until the first piece in the whole chain of dominoes falls.
4. Locally, the bulls and bears now have a 50/50 chance
5. BTC's past drop to 16.5K was based on the market's sensitivity to macro and the FTX drop that continued to “infect” the market. Now there is no thesis or narrative for the fall. US CEX was temporarily able to fend off the SEC, Genesis bankruptcy was quietly accepted by the market, macro data is totally ignored, Paxos and Binance “breakup” slowed down the market for 2-3 days
6. The main thesis of the majority of traders is to go short now in order to show the bulls that they are wrong. Of course there are preconditions for fall and these preconditions are quite rational, but the market is often able to be irrational longer than traders will be solvent
7. For those who are willing to go short: the safest option now is to go short without leverage, or with a small leverage to stay in the market. Just keep in mind that the situation is changing very quickly
8. The main price range for finding shorts is 29,900-30,200
9. The current volatility and activity in the market is ridiculous, most got into their long positions in mid to late January, and they want the music to keep playing
In the near future we’ll see how the situation will change and what will current long positions give us. Share your thoughts about the most controversial and debated topic right now in a crypto community and stay with us for further ideas. Thanks for reading and don’t forget to check the links below and visit our website!
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