Down over 60% on paper. I won’t touch the position unless my stop-loss is hit—that was the line I set before entering. The current price is still some distance from my entry, so I’m not rushing to add or cut; I’ll wait and see which way it goes.
Funding is deeply negative and shorts are crowded, which makes me wary of a sudden short squeeze. The top-trader long/short ratio is on the low side, suggesting smart money isn’t piling into shorts. At this point, it’s a question of who panics first.
My line in the sand is above 2.11. If it breaks, I’ll take the loss and walk away; if not, I’ll hold. I haven’t added to the position, so my risk exposure is still the same as when I opened it.
Is this a bull trap bounce, or is it really taking off? Are you still holding your shorts, or have you already bailed?
#BTW #Binance Square
Funding is deeply negative and shorts are crowded, which makes me wary of a sudden short squeeze. The top-trader long/short ratio is on the low side, suggesting smart money isn’t piling into shorts. At this point, it’s a question of who panics first.
My line in the sand is above 2.11. If it breaks, I’ll take the loss and walk away; if not, I’ll hold. I haven’t added to the position, so my risk exposure is still the same as when I opened it.
Is this a bull trap bounce, or is it really taking off? Are you still holding your shorts, or have you already bailed?
#BTW #Binance Square