Crypto Market Update: Are We SO BACK???

Summary

In this insightful trading analysis, the speaker discusses key entry and exit strategies in a fluctuating market, highlighting order blocks and EMAs. They provide a detailed review of their recent trades, including long and short positions, while emphasizing market sentiment and the implications of on-chain meme performance. The speaker expresses skepticism about certain coins, particularly Aptos, due to supply emissions and underlying technology concerns. Overall, the discussion offers valuable insights into navigating current trading conditions and the importance of timing in decision-making.

Takeaways

• 📉 The speaker identifies a significant order block around the price level of 2.76 for potential short entries.
• 📊 Their average short entry is noted as approximately 2.83, indicating a strategic positioning in the market.
• 🔄 The speaker plans to close shorts if the price holds around 2.45, highlighting a clear exit strategy.
• 💡 On-chain metrics suggest favorable conditions for short opportunities in the current market landscape.
• 🚀 The speaker recalls long positions taken around 1.84 - 1.85 after a breakout, showing a tactical approach to trading.
• 🤔 The discussion on Aptos (AP) reveals a negative sentiment towards its technology and VC supply emissions, affecting trading decisions.
• 🔍 A potential short opportunity on Aptos may arise if prices deviate below a trend line and then retest, indicating caution in entry points.
• 📅 The speaker discusses important price ranges formed in previous months (March-April and June-August) that guide their trading approach.
• ⚖️ The distinction between coins that have significantly increased in value versus those that are still ranging is emphasized as crucial for decision-making.
• 💬 Overall, the speaker aims to provide a concise market update while sharing insights into personal trading strategies and market observations.

Q & A

What is the significance of the order block mentioned in the analysis?

The order block indicates a potential area of price reversal or support/resistance, with the speaker noting an entry point for shorts around this block.

What were the key entry points for shorts and longs identified in the discussion?

Key entry points for shorts were around 2.76 and an average entry at 2.83. Long entries were noted around 1.84-1.85.

What factors influenced the decision to short the asset?

The decision to short was influenced by on-chain meme activity, which historically suggests a favorable shorting opportunity, along with price movements and market sentiment.

How does the speaker view the current market momentum?

The speaker views the current market momentum as strong, expressing caution about shorting due to this momentum despite a bearish outlook.

What specific levels are the speaker watching for potential exits on short positions?

The speaker is looking to close short positions if the price holds around 2.45, with initial exit considerations around 2.22.

Why does the speaker express skepticism about Aptos (AP)?

The speaker is skeptical about Aptos due to perceived weaknesses in its technology and concerns over its VC-driven supply emissions.

What trading strategy does the speaker recommend for Layer 1 (L1) coins?

The speaker recommends trading Layer 1 coins on a long-short basis, suggesting that each should be evaluated individually rather than collectively.

What was the speaker's stance on the significant price movements in March and April?

The speaker noted that during March and April, many coins surged while Aptos fell, highlighting concerns about supply emissions affecting its price.

How does the speaker categorize coins in terms of shorting opportunities?

The speaker categorizes coins into two types for shorting: those that have seen significant upward moves and those that are still ranging at their highs.

What final thoughts did the speaker express regarding the analysis shared?

The speaker aimed to provide a concise update despite the number of requests, indicating the importance of market conditions and fundamental analysis in trading decisions.