Alt Coins in need of liquidity
Let's skip the whole macro and interests rates stories.
The last crypto pump was pure market manipulation in order to floor the "whales" entry price.
It was a pretty big short squeeze caused by released of sell positions as seen on the derivative open interest.
Without explaining all the concept of liquidity, the market is in need of more cash.
The whole short squeeze leg left hanging a whole lot of orders, in what is called : gap.
Based on the common sell off pattern. I already took a short positions and I am waiting for a upside retracement to take another entry.
The imbalance or gaps can act as a S/R and these zones will acts as my T.P
Remember this : Market moves from liquidity to liquidity.
PSA.
Knowing how crypto moves in harmony between coins, I simply choose the charts that feelt more comfortable.
The last crypto pump was pure market manipulation in order to floor the "whales" entry price.
It was a pretty big short squeeze caused by released of sell positions as seen on the derivative open interest.
Without explaining all the concept of liquidity, the market is in need of more cash.
The whole short squeeze leg left hanging a whole lot of orders, in what is called : gap.
Based on the common sell off pattern. I already took a short positions and I am waiting for a upside retracement to take another entry.
The imbalance or gaps can act as a S/R and these zones will acts as my T.P
Remember this : Market moves from liquidity to liquidity.
PSA.
Knowing how crypto moves in harmony between coins, I simply choose the charts that feelt more comfortable.
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