SHORTING BAND @2.0991, EXPECTING NEW LOWS AROUND 0.83

This trade is based on the overall direction of the crypto market.

I searched for a high quality short as the short ambassador of the next downwards impulse I am expecting.

BAND being a low-cap (no idea if it is a shitcoin or not) and highly volatile and highly responsive to market movements (high downwards Beta), I chose it.

Seems like it is likely to make new lows in respect to 2022 prices. 0.80-0.90 would be highly probable in some weeks.

Then again, I will look to long this as it can make 5-10x from there.

Then again, I use very low leverage <1x and willing to go up to 1.5x on the short if the chart looks reasonable (with reasonable stop).

Batch 1 is GO.

Zlecenie aktywne:

Started declining right away. 6.5% return reached.

Built a stop-loss at around 2.45

Then again disclaimer: I use very low leverage <1x and willing to go up to 1.5x on the short if the chart looks reasonable (with reasonable stop).

Zlecenie zamknięto ręcznie:

Closing the trade manually here at close to breakeven to reduce short exposure to the market.

It seems there is some strength in the market and I am going neutral.

Overall, in the last week we achieved 36% return.
(LIT long brought 35% + DOGE short 2% and BAND -1%)

Cheers.