I'm up on my ETH Short Position but down on my Bitcoin short.
I want to emphasize that I don't like shorting these assets and I don't think most should do it. Crypto has been up and to the right over time so it is even more mental anguish waiting for this to play out.
I felt the weakness in the market squirming around in the trenches. How weak is it???? We will find out. Etherem is sort of testing this level for the 3rd time in the past several days. Maybe it breaks down or continues on. Time will tell.
What do you guys think? Do we hold up? Are you going to take short positions?
Fighting the long-term trend definitely sounds like a mental game. I could never stomach the stress of shorting crypto myself, especially with ethereum testing those same levels repeatedly.
Yeah it really is a mental game and I feel like if someone is going to do it they should start slow. On Kalshi it does send alerts if you are closer to liquidation and then you can add more money to the position or close it out. So that has helped me manage things and wait for things to play out.
https://coinmarketcap.com/charts/fear-and-greed-index/
Usually when we go into the Green on the Fear and Greed index we then burn off and go clear down to the Red "FEAR" area. In a bull market there can be a midway reversal type thing but for what is going on now I'm not filling bull market vibes. The volumes aren't there and it always felt like a mini meme storm.
Crypto never makes it easy on us.
I will say that the only reason I initially took these short positions in the first place is I feel the time pressure. AI has made a big leap forward which will disrupt what people are doing and the Quantum threat is real and oddly enough most chains aren't set up for it. Seems like 1 chain is truly resistant end to end.