I just opened a short at 83,800, with a stop-loss at 84,600.
$BTC is hovering around 84,270; the trading volume is only 0.66—it's ridiculously low, and there’s basically no clear direction. Today it pushed up to 84,420, but there wasn’t any volume, and it got smashed back down right away. In the short term, we may see a pullback. For support, first look at 83,798; if that breaks, the next target is 83,500, and then 83,000.
The funding rate is 0.0032, which looks okay, but for these small coins—2Z, RARE, and STEEM—the funding rates are scary negative: -0.43, -0.37, and -0.31. That suggests the bearish sentiment on smaller coins is very strong. Maybe the main players are shorting small coins, and then Bitcoin gets dragged down as well.
I added a bit more long at 83,500, and set the stop-loss at 83,000. If this level breaks, then you have to accept the loss. The key is whether 84,420 can be effectively broken through—if it can’t hold above it, then the bears have the advantage.
What do you all think—can this round hold 83,800?
#Write2Earn #Crypto
⚠️ Personal opinion only; not investment advice.
$BTC is hovering around 84,270; the trading volume is only 0.66—it's ridiculously low, and there’s basically no clear direction. Today it pushed up to 84,420, but there wasn’t any volume, and it got smashed back down right away. In the short term, we may see a pullback. For support, first look at 83,798; if that breaks, the next target is 83,500, and then 83,000.
The funding rate is 0.0032, which looks okay, but for these small coins—2Z, RARE, and STEEM—the funding rates are scary negative: -0.43, -0.37, and -0.31. That suggests the bearish sentiment on smaller coins is very strong. Maybe the main players are shorting small coins, and then Bitcoin gets dragged down as well.
I added a bit more long at 83,500, and set the stop-loss at 83,000. If this level breaks, then you have to accept the loss. The key is whether 84,420 can be effectively broken through—if it can’t hold above it, then the bears have the advantage.
What do you all think—can this round hold 83,800?
#Write2Earn #Crypto
⚠️ Personal opinion only; not investment advice.