taking short pos on $PEPE
Ethereum nicely outperformed amid the overall market growth, now it's time to catch an entry on its main bet - Pepe.
#pepe#eth#crypto
BTC exchange reserves continue to shrink - more is being withdrawn than deposited. Governments, corporations, ETFs, and funds are buying, while retail (as usual) is selling.
While the big players accumulate, the small ones take profits. Time will tell who is right.
Altseason incoming?
The ETH/BTC pair is showing +38% growth from its 5-year low. The reasons are fundamental: increasing demand for ETH (especially amid the hype surrounding ETH-ETF) + reduced selling pressure.
$BTC Thoughts π
Looking like they want to pull it up even higher. Resistance levels at $106,800 and $108,500 where we might see a reaction.
On Monday, I'm looking for a good market correction to the $94,000 - $96,000 range. Could be a good opportunity to catch a short.
#btc
π $BTC Analysis and Future Trades
The picture for Bitcoin is currently ambiguous, and I strongly advise caution, especially to those planning to open long positions right now.
β Short squeeze and reversal: I allow for the possibility of a short squeeze (a sharp increase that knocks out short sellers) to the $88,500 level. However, after that, I expect the price to return to the $81,000β80,000 zone.