At 00:40, I shorted $TRX at 0.3098, saying a breakdown would send it to 0.30. By 6:45 a.m., it had plunged to a low of 0.3007—just shy of the target—and the short gained nearly 3%.
The question now is: can we keep shorting? I say don’t chase it here.
1️⃣ It has already bounced from 0.3007 to around 0.309. Short sellers should take profits.
2️⃣ The funding rate has plunged to -0.16%. Shorts are paying funding, so chasing the short now is like paying longs to trade.
3️⃣ Open interest has fallen from 104 million U to around 80 million U. This drop was driven by deleveraging, not by new shorts entering the market.
So the plan is: the short-term outlook remains bearish, but wait for a bounce into the 0.315–0.318 resistance zone before looking for an entry. If it holds above 0.318 on strong volume, the bearish thesis is invalidated—admit the mistake.
Would you wait to short at 0.318, or buy the dip now?
#TRX #合约 #MarketAnalysis
The question now is: can we keep shorting? I say don’t chase it here.
1️⃣ It has already bounced from 0.3007 to around 0.309. Short sellers should take profits.
2️⃣ The funding rate has plunged to -0.16%. Shorts are paying funding, so chasing the short now is like paying longs to trade.
3️⃣ Open interest has fallen from 104 million U to around 80 million U. This drop was driven by deleveraging, not by new shorts entering the market.
So the plan is: the short-term outlook remains bearish, but wait for a bounce into the 0.315–0.318 resistance zone before looking for an entry. If it holds above 0.318 on strong volume, the bearish thesis is invalidated—admit the mistake.
Would you wait to short at 0.318, or buy the dip now?
#TRX #合约 #MarketAnalysis
