$BB

While the futures market is more short than long, the extent to which the spot market is more long than short on margin and considering the ratio of turnover between the futures and spot market implies that overall the market is more long than short. Lots of bulls out there, and pair is up >40%. Odds are that we see some profit taking catalysing deleveraging
#TouristTrap

$INJ

In a previous post I said hold for 38 but i think wait lower.market has been buying the whole way down and capitulating into new entrants. More weak hands need to fold. Waiting for 35 now

#TouristTrap

$FIL

Morning all. FIL short working out nicely. Took a look at my model and it’s flashing a strong bearish signal on FIL. Managed to short it 10.8-ish. Contemplating pressing the short here. Liquidations are imminent

Often, it is observed among traders, a propensity to extol their most profitable ventures. With little discretion, they proclaim, ‘A vast fortune was amassed by my hand,’ a declaration not uncommon in the forums of public discourse. This inclination springs not from a well of confidence but rather from a chasm of insecurity, masked cunningly by the guise of arrogance. Such individuals surrender to the whims of their emotions, deluding themselves into believing that mere fortune is the fruit of their so-called expertise. Let this serve as a caution to you: fall not into this snare. Let not your discernment be clouded by the tempest of your emotions. For in the mastery of one’s passions and the cultivation of reasoned judgement lies the path to true wisdom and enduring success.

$FIL

Been eyeing SOL as a short but I think FIL is looking like a more compelling sell than SOL across a number of metrics. I see the market getting bulled up on nothing other than the price action… currently looks like traders have overextended themselves. Shorted my first clip at 10.4 with plenty ammo to spare. Highly at risk of seeing profit taking + poor long capitulation. Aiming to catch a -10% drawdown. This is a short

#TouristTrap

$SOL

Next tourist trap…SOL. The coin has had a big move in the last 2 weeks. Failed the high 130s for a pull back. Market seems to be consolidating, a few weak hands have folded. Doesn’t look like there’s a lot of potential energy In this one to bust through recent high. I believe this is a short. Going to build >130 with a small level set at the 130 mark with the intention of shorting into bullish impulses

#TouristTrap

$INJ

Still bearish on this. Closed out my short on the last liquidation event. Market seems to have deleveraged somewhat. I think could see a small pump to 42 perhaps 43 which should be shorted. Do nothing. More liquidations to come. Too early to start building a long

$INJ

The funny thing about the state of the market right now that most traders don’t realise is that the marginal buyer is spent…the only way this rally can continue is if
-fresh buyers step in in a big way
- if there’s a fresh influx of tethers.
- There’s rotation as a result of profit taking elsewhere

If everyone has already bought as much of some coin as they can, how can prices can go up?

Returns are asymmetrically skewed to being a bear.

Charts mean nothing. Beware the charlatans and false prophets…

#TouristTrap

$INJ

One only has to look at recent candles in this coin. Upside muted combined with long needles on the downside…I see bulls about to stampede all over each other. It’s going to be a massacre… distressed selling most likely to follow. Get your rifles out out.., it’s going to be open season soon…

#inj

$INJ

The rally in crypto doesn’t look durable to me. Price action looks robust at face value…but the data tells a different story. My advice…your only viable options are:
-if you feel absolutely compelled to participate at these levels, do so from spot. Use leverage sparingly. Volatility drag is hard to recover from.
- Wait for a pullback commensurate with the vol of the respective currency
- Keep your trading delta neutral. Play sensible pairs.
- For the more seasoned traders, build shorts using an averaging strategy that is suitable for shorting into momentum.
- Or the simplest(for the Occam’s razor acolytes out there), if you’ve already made money from this recent rally…take your profits,put your feet up, do nothing and wait. This won’t be the last time we see these levels in these coins. Let the cannon fodder hype men clear the minefield.

Sometimes the best trade is no trade at all.

$INJ

Too many tourists in this one. Wait for 38. Looks like too many bulls overextended themselves at the 45. Keep some powder dry and give yourself a margin of safety. Patience pays.