The case for going long STEEM holds up
Short accounts make up 57.9%, and the funding rate is -1.088%, settled once every 8 hours. Shorts have to pay 3.26% per day. This is a market structure with shorts crowded on one side.
The price plunged from 0.06676 to 0.04681, down 14.95% in 24 hours. It’s now at 0.0477.
Shorts are making money, but the cost of holding their positions is extremely high. As long as 0.0468 holds, short covering can provide fuel for a rebound.
Scale into a long position:
First entry: 0.0472–0.0478
Second entry: 0.0464–0.0470
Stop-loss: 0.0453
First target: 0.0520
Second target: 0.0560
Position size: 20% total, 10% per entry
If it breaks below 0.0453, the downtrend isn’t over. Exit immediately 👀
$STEEM #STEEM #做多 #合约
Short accounts make up 57.9%, and the funding rate is -1.088%, settled once every 8 hours. Shorts have to pay 3.26% per day. This is a market structure with shorts crowded on one side.
The price plunged from 0.06676 to 0.04681, down 14.95% in 24 hours. It’s now at 0.0477.
Shorts are making money, but the cost of holding their positions is extremely high. As long as 0.0468 holds, short covering can provide fuel for a rebound.
Scale into a long position:
First entry: 0.0472–0.0478
Second entry: 0.0464–0.0470
Stop-loss: 0.0453
First target: 0.0520
Second target: 0.0560
Position size: 20% total, 10% per entry
If it breaks below 0.0453, the downtrend isn’t over. Exit immediately 👀
$STEEM #STEEM #做多 #合约
