Short Position in ETHUSDT Perp

Jul 28, 2022

Hi Guys, the market pumped as expected post the announcement of a 0.75% interest rate hike by federal reserves. We could see a good pump coming in right after the same. In my opinion, this pump was created only to create a FOMO amongst the retail individuals and that market hasn't recovered completely to carry another bull run. BTCUSDT is currently sitting at 22,800 approx which is a major resistance zone to break. The market couldn't derive enough volume yesterday to break past the 23K zone and approach the 25K-28K Zone. Also, ETHUSDT has created a bearish engulfing in 1-hour chart. My recommendation would be to short ETH and book a small profit here.

Entry Zone: 1600-1700
TP1: 1550
TP2: 1500
TP3: 1450
TP4: 1400
TP5: 1350
Stop loss: 1760-1800 or more as per your risk appetite.

Do your own research and avoid trading without understanding the market sentiments and fundamentals.
Feel free to comment or message in case you need any additional clarification.

Jul 28, 2022

Trade active

Guys, if you placed multiple short orders in the given zone. There is no need to worry. Still, the market looks a bit sceptical hence I would suggest you keep a strict stop loss at 1800 if the market rallies. We'll surely hit the targets if market behaves normally. I am expecting a big pullback soon.

Jul 31, 2022

Trade active

You can be a bit more patient if you are still holding this trade. BTC dominance is on fall means alts are pumping. A lot of shit coins are also pumping which is a clear indicator that the market might fall. we'll surely hit at least target 1 in the coming days.

Aug 4, 2022

Trade active

I am still holding the trade as I am in profit. I am quite sure that the market is showing bearish movement in micro terms and we might be able to take at least the first target in the coming 1-2 days. Keep a strict stop loss though