DoubleEdge

Closed the short from burgers open (roughly 3:1 rr) and opened a small long just in case the bears are so horny brev.

Ngl 84k is THE battlefield rn. perps defending this like their life depends on it. Spot stacked at 80k, so if 84 breaks = straight elevator to 80 :) no bounce then see ya at 80k for one $BTC

Is now a good time to short crypto? Some alts are already down 40% while $BTC is stuck in sideways chop right.. Just look at OTHERS/BTC clearly below the main trendline, acting as resistance. IMO we grind lower first, then get a decent dip-buy opportunity brother..

Imagine the smell if $silver could do this..

Beautiful U.S. open of course. What’s surprising is that crypto is the worst-performing asset, right?

I hope you understand...

Let that mf draw on $RIVER

$WLD is the best coin to short on any news pump. Lmao.

Great thread launching $BIRB with constant negative funding (-2%), pushing to $500M FDV without releasing the airdrop. At the end of the day, project teams always win. Wouldn’t hold spot bags to infinity though. Great vol to trade, scalp, etc. Enjoyed it.

For me today, really wanted to short $PLAY but decided to flip it and try to catch pullbacks. It’s holding, shorts piling in, longs still haven’t started taking profits so maybe higher for now? Funding going negative. Quick profits no longer holding.

UPDATE on $BEAT: a month later. FDV was never justified. Funniest part is it could still get cut in half. Read a thread on $PLAY below, feeling this one could go full degen in the future.

$BEAT $PLAY 👇

Current MC is $40M, while FDV sits around $500M+. These kinds of low-float gaming coins usually don’t care what BTC does they often run best when BTC is weak, because it turns into pure PvP Perps. $PLAY Could be one of those coin squeezd to Bilions FDV.

When price is held up by elevated OI and perp flow, the unwind is usually fast and vertical. I’m not in a trade right now, but this looks like one of those names where flashy shorts can pay when it finally turns. I will update $PLAY in future.

Let’s talk about $PLAY “Shopify for mini-games”. The chart below explains orderflow perspective. TLDR: Price ↑ + OI ↑ = longs piling in → spike. Then OI gets parked at a higher baseline while price is held. Someone maintaining leveraged exposure in a thin market (spot).

It’s absolute cinema watching crypto experts flood the timeline talking about the “rotation” from gold to digital gold and how hype will flip the entire crypto market or if #ASTER WILL flip #HYPE (lmao) or whatever shit. Maybe the ETH-overtake thesis is real. Maybe not. Either

Two dead cat bounces: $DUSK and $AXS. I had AXS short as a longer-term play but closed it early because of funding. In hindsight, DUSK was the better short: slightly better funding and sharper PA on the way down.