I don’t think this pullback is going to be over anytime soon, so today I’m sitting back and watching instead of making a move. The market looks awful: only 4 of 28 coins are in the green, $ETH plunged more than 5 points, and SOL and XRP went down with it. $BTC 81599 has held up relatively well. The biggest losers are even worse, with ZEC and $ENA both down by double digits.
What I did: I sold half of my $ETH yesterday and am holding on to the rest. Honestly, it hurt a little to sell, but with market breadth at just 14.3%, stubbornly holding through a broad sell-off isn’t exactly smart. What stings even more is that the long/short ratio for $ETH hit 3.21—people are scrambling to catch a falling knife. My take: it’s getting a bit crowded on the long side here.
The Fear & Greed Index is at 53, so sentiment hasn’t collapsed. I’m leaning toward this being a shakeout rather than a capitulation. Open interest in $BTC is still edging up over the past hour, and the bears haven’t dared to ramp up the selling either. I’ll watch for another day or two. I’m not chasing a bounce; let’s see what happens if it really bottoms out.
Did you reduce your position this time, or are you holding on no matter what? Let me know in the comments how many of you are playing dead.
#Binance #BTC #ETH #行情分析 #CryptoMarket
What I did: I sold half of my $ETH yesterday and am holding on to the rest. Honestly, it hurt a little to sell, but with market breadth at just 14.3%, stubbornly holding through a broad sell-off isn’t exactly smart. What stings even more is that the long/short ratio for $ETH hit 3.21—people are scrambling to catch a falling knife. My take: it’s getting a bit crowded on the long side here.
The Fear & Greed Index is at 53, so sentiment hasn’t collapsed. I’m leaning toward this being a shakeout rather than a capitulation. Open interest in $BTC is still edging up over the past hour, and the bears haven’t dared to ramp up the selling either. I’ll watch for another day or two. I’m not chasing a bounce; let’s see what happens if it really bottoms out.
Did you reduce your position this time, or are you holding on no matter what? Let me know in the comments how many of you are playing dead.
#Binance #BTC #ETH #行情分析 #CryptoMarket