I'm bullish on altcoins generally right now but I believe a strong corrrection is likely for SOL.
Shorting is almost always the more risky trade. Especially in these conditions. So...
Shorting is almost always the more risky trade. Especially in these conditions. So...
Note
I took this trade as a crazy hedge to my crypto longs. If it works it will hedge me. If it doesn't I'm all good.Note
I like the macro outlook of SOLBTC btw.Note
My stop is 83 btw. I put that stop randomly on chart.Note
If you didn't get it, SOL showed sign of exhaustion here. But didn't do a type of correction which is a usual behavior to test divergences with aggrresive moves. Sometimes they even do a fake invalidation.Note
And I guess I don't have to say this but if this is the case for SOL, iit's insanely bullish.Note
So yeah I shorted a coin I think that looks good :DNote
If you are a SOL fan, this is the "be patient and faithful" phase. Buy more at the support and hope that it holds. If it doesn't hold, don't chase it. This is how it works.Note
SOL to AVAX rotation was real?Note
This hedge short makes me net short (slightly) in crypto market right now lmao. Long positions just worked really well. I had to take profit. And the bear in me is still there.Note
Honestly this looked like a market-wide flush. Not something I really like for this position.Note
I moved stop to entry(74)Trade closed: stop reached
Stopped at entry. Like I said macro SOL is good. My only problem with it there is no reaccumulation range yet. It's effectively up-only for spot holders. If you are not a big SOL fan it's just watch time imo.Disclaimer
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.