Recently, I found a good trading target and would like to share my thoughts with you.
The coin USELESS is currently trading around 0.1045. My plan is to short at 0.1045 and add to the position at 0.11. If it really breaks through to 0.15, I will exit all positions. The risk-reward ratio still looks pretty good.
Why am I bearish? There are two main reasons. First, this coin has tested the upper level several times on a smaller timeframe, but each time there hasn't been enough capital influx to push it higher, indicating strong selling pressure above. Second, the mainstream coins, the big brothers, all have a need to retest lower levels. Once they drop, these small coins are easily dragged down with them. From a probability perspective, the likelihood of being pulled down is quite high.
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HappyToBeDumped
· 21h ago
Haha, the name is absolutely great, and so is this coin's name. USELESS, just a direct translation.
I believe in heavy selling pressure, but this market cap is too small. One big holder can easily dump, so don't be too superstitious about probabilities.
Wait, if we follow your logic, wouldn't all small coins have to fall? Then just short the entire scam market directly.
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WhaleMistaker
· 21h ago
Cryptocurrency names are so fierce, I don't believe you can make money haha
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Another small coin operation, honestly this market is too small and easily crushed
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0.1045 short to 0.11 cover? Your risk management awareness is pretty good
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Wait, are you sure you can escape when mainstream coins pull back? Can the liquidity of small coins really hold up?
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USELESS coin, I feel like the name already hints at something. Are you doing hardcore operations or gambling?
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Clear logic is clear, but small coins are too easily crushed by whales
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No increase after continuous testing? That means someone is suppressing the price
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Your approach is actually pretty good, just depends on whether you can hit the right rhythm
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MetaverseVagabond
· 21h ago
This coin is called USELESS, and I think that says it all haha
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FloorPriceNightmare
· 21h ago
Another bearish outlook on small coins, have you exhausted your bottom-fishing and are still waiting for mainstream coins to dump?
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The name USELESS is really fitting. To be honest, no matter how good the risk-reward ratio is, it can't withstand the fate of being trapped.
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Heavy selling pressure leads to short positions. I've heard this logic countless times. How does it usually end?
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Adding to the position until 0.11 and that's it? You really believe in this stop-loss?
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Waiting for BTC to plunge directly below 0.05, then talk about probability theory. Haha.
Recently, I found a good trading target and would like to share my thoughts with you.
The coin USELESS is currently trading around 0.1045. My plan is to short at 0.1045 and add to the position at 0.11. If it really breaks through to 0.15, I will exit all positions. The risk-reward ratio still looks pretty good.
Why am I bearish? There are two main reasons. First, this coin has tested the upper level several times on a smaller timeframe, but each time there hasn't been enough capital influx to push it higher, indicating strong selling pressure above. Second, the mainstream coins, the big brothers, all have a need to retest lower levels. Once they drop, these small coins are easily dragged down with them. From a probability perspective, the likelihood of being pulled down is quite high.