This morning I added a little short to my balance: xrp short by 1% of the test bank at 0.5121. Not with the goal of making money, but with the goal of continuing to hedge the longs taken in May on another alt. God protects the careful) We will then try to make money on the growth of altcoins, but for now we need to keep the deposit safe and sound. Otherwise it will turn out as usual - the bottom has been found, but almost no one has the money to buy, everyone expecting growth has bought an order of magnitude higher)
I'm also looking at ltc and trx. All three coins went against the market and they have room to decline if the general drain continues. To short something that December or March loys have no desire, based on logic - not to sell something that is relatively cheap and has been falling for a long time.
You can see for yourself from the cue ball what happened; from the day and 4 hours we have settled below the long sideline. While they are trying to buy back. No one can say whether this was just manipulation or whether the leak will continue.
If before yesterday's breakout of the sideways trend, I personally determined the probability of approximately 60% that we would first go to 29-31k. Now I assume that it’s already 60% on the contrary for a decrease to 21-23k. But in essence, it’s still fifty-fifty.
My job now is to not allow the deposit to draw down in the event of further losses. To do this, I will short what is relatively expensive and close to local highs.
At the same time, I am still hunting for a long position, that is, I am catching a general countertrend, and I am ready to take new long positions if the general market (cue ball and viola) shows signs of buyer strength.
Tomorrow, if I have time, I will lay out all the most significant economic news and macro data that could potentially affect the crypto market. I’ll describe the situation regarding the deposit, and I’ll also try to give some useful thoughts.
