So let’s better be prepared … I took some profits on my long BTC position and I’m looking for some more SHORTS to hedge the remaining portfolio of LONGS against a possibly continuing dip of the general market.
Let's get started 😃 … I possibly found an opportunity with 1INCH Token against USD:
Summary of the Analysis: 1INCH/USDT (1 day time frame)
Trends: Short Term - & Long Term - Bearish
Crypto Screener™ – 1 day frame – (by TradingView) Rating: SELL
Technical Indicators – 1 day frame – (by TradingView & intotheblock): SELL
- Summary: 9 ; 9 Neutral & 4 --> SELL
- Oscillators: 1 ; 8 Neutral & 2 --> SELL
- Moving Averages: 8 ; 1 Neutral & 2 --> STRONG SELL
- Circulating/ Total Supply = 60%; Max Supply unconfirmed --> SELL
- 648 out of 1,000 Fundamental Crypto Asset Score (FCAS™ by Flipside Crypto) --> SELL
- No SIMETRY™ Rating (by Crypto Briefing)
- B Rating with stable outlook by TokenInsight
- 49.2% out of 100% Asset Score™ by TokenInsight --> SELL
- No Dynamic Performance Score™ by TokenInsight
AI (Artificial Intelligence) by CENTRALCHARTS: SELL
- 1h (1 hour frame): neutral
- 4h (4 hours frame): neutral
- 1D (1 day frame): positive
- 7d (last 7 days): negative
My Opinion: SELL - under USD 4.476 (Stop Loss Level +12.9% from current price level = 1st light green line above current price);
My targets: USD 3.408 (-14.1%), USD 3.000 (-24.4%) & USD 2.190 (-44.8% from current price level)
1INCH/USDT follows a strong since All Time High on 02/ 05 /2021. Traders may consider only short (sell) positions if the price stays well below USD 4.476. Next support levels are indicated as light red lines in the chart. A breakout below a support line would increase momentum.
Since the beginning of March we are trading below yellow indicator line – BTCUSDT – which means 1INCH is currently underperforming compared to BTC!
Signal Force (0-10): 6 = strong force
To sum up my opinion: I’m convinced that the 1INCH Token is substantially overpriced with the recent PUMP ACTION and will retrace back to it’s lows from before the parabolic move (around USD 3.000 or lower).
We broke monthly ( ) downwards 5 days ago (on 03/23/2021) which is a strong SELL signal.
Please note that as a Hedge Fund Manager I would NEVER go outright short = only sell short ... I always have potentially overperforming coins or tokens long against the shorts!
The trick is, that (because of good research) the longs perform better than the shorts in all market situations.
Please also have a look at my other current analysis to get a full picture of the Crypto market.
Happy trading … please like, follow and comment!
Published on 03/28/2021, 09:30 PM (UTC+1)