Some guys asked Beichen whether $BTC and $ETH , among the major coins, are worth bottom-fishing here. Personally, I wouldn't recommend it. Bottom-fishing now means catching a falling knife!
The major coins were so strong on the charts yesterday, yet they still got dumped. And looking at the open interest data, short positions far outweigh long positions—the signal couldn't be clearer. There are still loads of long positions overhead, waiting to break even and get out, so every rebound will bring selling pressure.
Next, weakness is likely to continue. Don't rush to bottom-fish and try going long now. There are tons of underwater positions overhead waiting to exit, so the risk/reward for going long is too poor.
Once most of those underwater positions overhead have been shaken out, we'll consider turning bullish again. Beichen is still holding short positions for now. Those of you holding shorts like Beichen can keep holding them.
#股票财报季
The major coins were so strong on the charts yesterday, yet they still got dumped. And looking at the open interest data, short positions far outweigh long positions—the signal couldn't be clearer. There are still loads of long positions overhead, waiting to break even and get out, so every rebound will bring selling pressure.
Next, weakness is likely to continue. Don't rush to bottom-fish and try going long now. There are tons of underwater positions overhead waiting to exit, so the risk/reward for going long is too poor.
Once most of those underwater positions overhead have been shaken out, we'll consider turning bullish again. Beichen is still holding short positions for now. Those of you holding shorts like Beichen can keep holding them.
#股票财报季