Last week, I published a long ladder order for SOL at the monthly line down to 157~155~150 during the market correction. If you haven't followed the post and bought in, then you should take a break!
Why?
Currently, the market progress is about 80%. If you haven't entered a position when the bull tail's lower shadow appeared, there's no need to do so now.
Currently, many overvalued junk coins can be held short for the long term, such as SUI at $3.3, which is seriously overvalued at 66 billion RMB. Combined with its pattern, this is also the reason to short it. The position for shorting SUI is currently very small, with leverage less than 1 layer, leaving a lot of room for upward ladder shorts. At 28.45% of SUI's chips, it is estimated to be valued at 70~80 billion RMB during a bull market, which is already at its peak. SUI unlocks 2.4~4% of chips on the 1st of every month. Even if the coin price of $3.3 doesn’t rise, the market value is close to 70 billion RMB, and the operators are treating retail investors like lambs to be slaughtered. A market value of 70 billion RMB... oh my goodness... While SUI is surging now, you can place upward ladder shorts and look forward to it going to zero.
If you want to short value coins, you might have to wait until 95~98% of the market progress before you can short. The previous projection suggested that around Valentine's Day, the big coin would likely show an upper shadow on the daily line.
From a technical perspective, it’s important to short value coins; it's safe only when a long upper shadow appears on the daily line. If you want to short on the upper shadow of the daily line, your position must be very, very low, around 0.3~0.5 layers of position; remember! Remember! Remember.
