I keep seeing more traders opening short positions on $DEXE and every time that happens, price moves higher.
This is a pattern.
When too many traders are on one side of the market, price often moves the opposite way. A sharp move up can force short sellers to close positions, which creates a short squeeze and pushes price higher. It can also bring in new buyers who think the move is a new uptrend.
This does not automatically mean the trend has changed. It can also be a liquidity move, not real spot demand.
Because of this, I am staying cautious. I do not see a strong reason to open long positions on $DEXE right now. I prefer to wait for confirmation instead of reacting to a spike.
Risk management is important and trading decisions should not be based on emotions.
#MJR786
This is a pattern.
When too many traders are on one side of the market, price often moves the opposite way. A sharp move up can force short sellers to close positions, which creates a short squeeze and pushes price higher. It can also bring in new buyers who think the move is a new uptrend.
This does not automatically mean the trend has changed. It can also be a liquidity move, not real spot demand.
Because of this, I am staying cautious. I do not see a strong reason to open long positions on $DEXE right now. I prefer to wait for confirmation instead of reacting to a spike.
Risk management is important and trading decisions should not be based on emotions.
#MJR786