*BTC update - searching for entry
-> Following FED update - large net -ve outflow from exchanges, proportionally and historically
-> Leverage ratio at all time high (0.225)
-> Open interest decreasing
-> OI weighted funding rates finally moving negative
-> Max pain significantly above index prices
*Overall - on chain appearance indicative of closing in on bottom, but OI still elevated
Impression:
> Look for short term trigger for grind up, negative flush and then buy ins.
> My targets on screen
--> ALT triggers
Using BTC targets for ALT buys - proportional value % greater
Look for good projects, with more developed tokenomics, more established, likely to see divergence here from underdeveloped LCGs (low cap gems) - risk off in market atm
Target pairs:
$SRMUSDT
$AAVEUSDT
$SNXUSDT
-> Following FED update - large net -ve outflow from exchanges, proportionally and historically
-> Leverage ratio at all time high (0.225)
-> Open interest decreasing
-> OI weighted funding rates finally moving negative
-> Max pain significantly above index prices
*Overall - on chain appearance indicative of closing in on bottom, but OI still elevated
Impression:
> Look for short term trigger for grind up, negative flush and then buy ins.
> My targets on screen
--> ALT triggers
Using BTC targets for ALT buys - proportional value % greater
Look for good projects, with more developed tokenomics, more established, likely to see divergence here from underdeveloped LCGs (low cap gems) - risk off in market atm
Target pairs:
$SRMUSDT
$AAVEUSDT
$SNXUSDT
