Seeing the long-to-short position ratio for $BTC reach 1.48 makes me a little uneasy. While market breadth looks pretty optimistic, with 88.2% of coins rising, the ETF net outflows for both $ETH and $BTC are quite large. Add to that the news that MARA may be selling BTC, and it feels like there are quite a few risks lurking behind this rally.
Iโm leaning bearish and plan to try a small short position around 82,000. If the price breaks below 81,000, this thesis may no longer hold. My target is 79,000; if that level gives way, we could see even lower prices.
Market sentiment feels a bit overheated right now, and price swings are pretty large in both directions, so we should proceed with caution. What do you think? How are you reading this market?
#Binance #BTC #ETH
Iโm leaning bearish and plan to try a small short position around 82,000. If the price breaks below 81,000, this thesis may no longer hold. My target is 79,000; if that level gives way, we could see even lower prices.
Market sentiment feels a bit overheated right now, and price swings are pretty large in both directions, so we should proceed with caution. What do you think? How are you reading this market?
#Binance #BTC #ETH