Cardano will continue downtrend
Updated
I'm opening shorts on cardano. Maybe title is not relevant to my thinking, because it's not trend analysis.
I don't like to call it fundamental analysis too, because I don't really believe on fundamentals of crypto markets, but thats just a "guess" and interpreting of situation on BTC and possibility of running ETFs by CBOE.
I strongly believe that CBOE will run Bitcoin ETFs, because thats the istitution from the inside of the wall street. It's not some crypto exchange guys, that didn't exist on wall street few years ago.
Now it's really big players coming to it, and they all knows each others, they graduated the same Universities and at the end they are all from Goldman or JP Morgan, so I can imagine that they are talking about it behind the scenes.
So what is my game plan. Since I still keep my shorts on BTC (but soon - before 08/10 - I will reverse that positions) I'm starting to opening shorts on ADA and other altcoins in pairs with BTC. When big players will go with their huge money to BTC, it will for sure go up and as the results regular crypto players will want to enter that train and will transfer money from alts to BTC. Of course I will have both - longs on BTC and shorts on few alts and I hope alts will maximize my profit :)
I don't like to call it fundamental analysis too, because I don't really believe on fundamentals of crypto markets, but thats just a "guess" and interpreting of situation on BTC and possibility of running ETFs by CBOE.
I strongly believe that CBOE will run Bitcoin ETFs, because thats the istitution from the inside of the wall street. It's not some crypto exchange guys, that didn't exist on wall street few years ago.
Now it's really big players coming to it, and they all knows each others, they graduated the same Universities and at the end they are all from Goldman or JP Morgan, so I can imagine that they are talking about it behind the scenes.
So what is my game plan. Since I still keep my shorts on BTC (but soon - before 08/10 - I will reverse that positions) I'm starting to opening shorts on ADA and other altcoins in pairs with BTC. When big players will go with their huge money to BTC, it will for sure go up and as the results regular crypto players will want to enter that train and will transfer money from alts to BTC. Of course I will have both - longs on BTC and shorts on few alts and I hope alts will maximize my profit :)
Note
ADA is on local resistance levelNote
crypto ETF decision will be published probably August 7th. This is why I decided to keep my shorts on both BTC and ADA little bit longer.
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