Looking at the price chart makes me want to faint! From the peak almost 5k at the end of October, now the "old man" ETH is just trudging down, fluctuating around the 4k mark and then dropping deeper. Guys, look at the Funding Rate, it's so green which shows that people are still very eager to Long, but the more they Long, the more the price gets crushed.
Remember that "sacred" candle wick at the beginning of October? A sweeping move down to the bottom of society, Funding red as blood flowing like a river, so many guys burned their pockets in just a blink. Now the price is just limping along, sideways in this psychological torture is what we call a twist. Longs are afraid of a "Flash Crash" sweeping liquidations, while Shorts fear it might just bounce back up to the clouds.
The Funding keeps being slightly positive while the price is just "as weak as a banana" like this is an extremely sensitive signal. Anyone still holding orders must have their hearts racing faster than Vinahouse music. Be careful, this area is not the time to go all in, just play it cautiously and don’t let the old man ETH lead you into a pit. At this rate, there could easily be a big change, so prepare yourself to jump ship if you smell something burning, guys!
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