Don’t be stupid and enter high leverage or high margin longs at current prices.
Current price $3873
The S-1 approvals could come at any time, none of us know, people falsely believe this will have an instant Bullish effect so they are trying to fomo in at high leverage,margin with little room for price drops, huge mistake !!!
If the ETF is approved over $11Billion in sell pressure could hit the market from the grayscale ETF trust.
With the leverage below the current ETH price($1.5 Billion in liquidations with 5% price drop) it could create a massive long squeeze (Short term)
If you are entering leveraged longs make sure your margin and liquidity can survive a drop of 10% of the price you enter at, it might not happen at once but if leveraged liquidity is hit it could drive the price down(short term)
The news of S-1 approval will be Bullish for ETH long term but short term could be extremely bearish as large holders cash out their returns on ETH trusts.
This is not drama or FUD, many new traders don’t understand what actually happens around these events and just think it can only be bullish.
I want to help people understand the very realistic and possible short term effect this will have so they can make informed trading decisions.
From reports I have read it seems like the approval could happen fairly soon(days-weeks), so being aware of the effect it could have is important.
If you want more info about the ETF and Grayscale trust read my post from the 28th May
Be smart
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#ETHETFsApproved #altcoins #StartInvestingInCrypto #etherreum
