Caution! I'm trimming my position on Ethereum at this level, here's why👇
Hold your horses before you start roasting me, let me explain.
Current price of $ETH is 2,031, up +0.7% in the last 24 hours, looks pretty sweet. But! Did you notice:
1. The volume is actually declining, this rally feels more like a trap for the bulls.
2. The long/short ratio on contracts is seriously skewed, the bulls are overcrowded.
3. Market sentiment has hit extreme greed levels.
My strategy: I'm scaling out above 2,031, keeping 20% as my base position. If it really breaks the previous high, I'll jump back in; chasing now has a poor risk/reward ratio.
Remember: Bull markets are when retail traders lose the most. Don't ask me how I know this 😮💨
#ETH #牛市 #加密货币 #投资 #nuggets
Hold your horses before you start roasting me, let me explain.
Current price of $ETH is 2,031, up +0.7% in the last 24 hours, looks pretty sweet. But! Did you notice:
1. The volume is actually declining, this rally feels more like a trap for the bulls.
2. The long/short ratio on contracts is seriously skewed, the bulls are overcrowded.
3. Market sentiment has hit extreme greed levels.
My strategy: I'm scaling out above 2,031, keeping 20% as my base position. If it really breaks the previous high, I'll jump back in; chasing now has a poor risk/reward ratio.
Remember: Bull markets are when retail traders lose the most. Don't ask me how I know this 😮💨
#ETH #牛市 #加密货币 #投资 #nuggets