$INIT rose 71% intraday, and people are still thinking of chasing it at this level?
Don’t doubt it—someone really did ask Bitter Melon King whether they can go long on INIT now. I’m honestly baffled by that question. I’m waiting for an opportunity to enter a short on INIT, because spot funds are continuing to flow out and major players have already been cashing out in batches at high levels. Entering now could easily leave you holding the bag for the market makers.
The funding rate is still negative, which shows that short positions are heavily crowded. The market makers may well drive the price up one last time before selling off, creating a long wick that liquidates all the short positions before the market turns downward. So don’t rush into a short just yet—I’m also watching for an entry point.
Trading plan:
Conservative traders can wait and see, until that long upper wick appears. More aggressive traders can open a small short position around the current price of 0.209, then add to it if the price bounces and spikes upward.
That’s my overall game plan for INIT. For reference only!!!
#CPI前瞻，12月利率走向迎关键考验 #黄仁勋因婚外情致歉，英伟达启动独立调查 #Anthropic拒绝延期IPO，本周路演估值几何？ $JCT
Don’t doubt it—someone really did ask Bitter Melon King whether they can go long on INIT now. I’m honestly baffled by that question. I’m waiting for an opportunity to enter a short on INIT, because spot funds are continuing to flow out and major players have already been cashing out in batches at high levels. Entering now could easily leave you holding the bag for the market makers.
The funding rate is still negative, which shows that short positions are heavily crowded. The market makers may well drive the price up one last time before selling off, creating a long wick that liquidates all the short positions before the market turns downward. So don’t rush into a short just yet—I’m also watching for an entry point.
Trading plan:
Conservative traders can wait and see, until that long upper wick appears. More aggressive traders can open a small short position around the current price of 0.209, then add to it if the price bounces and spikes upward.
That’s my overall game plan for INIT. For reference only!!!
#CPI前瞻，12月利率走向迎关键考验 #黄仁勋因婚外情致歉，英伟达启动独立调查 #Anthropic拒绝延期IPO，本周路演估值几何？ $JCT
