Is the crypto winter over?

Back to square one? As expected, we have now reversed all the way back to 21,500 (red line). Feeling hopeful we will reverse here, but we *could* drop down to 20,000. In any case, unless we get a moonshot move, tread carefully.

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schizo said:
Back to square one? As expected, we have now reversed all the way back to 21,500 (red line). Feeling hopeful we will reverse here, but we *could* drop down to 20,000. In any case, unless we get a moonshot move, tread carefully.
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Very good call!
 
johnarb said:
Very good call!
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Hope you're doing alright. Pretty damn violent out there today. I thought we would get some breather at 21,500. Didn't think we would swoon all the way down to 19,800.

Anyway, 20,000 is the line in the sand (currently trading at 20,083). You absolutely need to guard it, otherwise you're looking at 18,400 as the next downside target, and then ultimately down to 16,000 and lower. There ain't that many support zones down here.
 
schizo said:
Hope you're doing alright. Pretty damn violent out there today. I thought we would get some breather at 21,500. Didn't think we would swoon all the way down to 19,800.

Anyway, 20,000 is the line in the sand (currently trading at 20,083). You absolutely need to guard it, otherwise you're looking at 18,400 as the next downside target, and then ultimately down to 16,000 and lower. There ain't that many support zones down here.
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Thanks, doing ok, not too bad, I'm not trading now

$18,400 is possible... don't think $16,000 or lower is probable, but we shall see
 
schizo said:
Did you short any perp futs?
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I wish I did! I always thought of shorting Eth as a hedge against my crypto portfolio

Eth perps has pretty good volume and liquidity, I could still do it at any time. I have a small Eth holding, but much of it in a couple of NFT's that have a high spread on current offer versus what I want to sell it for
 
johnarb said:
Eth perps has pretty good volume and liquidity, I could still do it at any time. I have a small Eth holding, but much of it in a couple of NFT's that have a high spread on current offer versus what I want to sell it for
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I definitely wouldn't short now. I think we've fallen enough for now...unless we tank below today's low on heavy volume.
 
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