$OM the interesting coin recent days with current price 7.5192. We can see chart 1D, it always rises up since end of Feb 2024. Ratio of Short around 75% for both top account/traders/positions. They reckon it too high price. I also read posts on Square, other traders expect to rise up $10, $20 even $50.
It was unlocked 45.36%, continue unlock 305,851 everyday until 2029. Looks like it does not affect to coin's price.
In the chart 15 mins, it goes sideway around 7.45-7.65
From my perspective, it continue rising up $8.4, $10, $12.5 event $20 in March, April 2025.
Back to your concern, should we short or long?
Spot trading: yes, you can buy and hold it in few months, but I prefer to wait it down as entry in long setup position.
Future trading: as it has limited by liquidated price, buy at high price is not recommended, no need to buy long it (unless you want it, and you can manage your risk)
We can set position to catch it as below
1. Long setup position:
Entry: 6.5-6.6
Target: 8.3-8.4
2. Short setup position:
Entry: 8.3 - 8.4
Target: 7.5
Low leverage is recommended (x3, x8)
Stop loss: manage by yourself.
Note: this post is for reference as money is yours, not mine. Manage risky better will help you take profit or loss less money
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