NeoButane

Short bitcoin - DOGE mania related

Short
BINANCE:BTCUSDTPERP   Bitcoin / TetherUS PERPETUAL FUTURES
Binance uses cross margin, and once DOGE dumps, traders who are long bitcoin will be force liquidated.

Here we can see VFAP showing that price is on the upper band, traditionally where price will reverse downward.


Contingency: If it does not go down, it will explode upward and retrace, but may take hours before returning under the gray horizontal box.
Comment: A reversion trade would start around $33000, the inner side of the reversal band. That's about -1.5% below current price, and if I were bullish now would be a good time to start scaling in. But I am not bullish right now.

My published indicators: https://www.tradingview.com/u/NeoButane/#published-scripts

Sorry if I haven't replied to your message yet, I'm a bit backlogged :)

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