The most overvalued coin in crypto right now is EOS'. This is based on the relationship to it's low from last winter. ETH' is only 16.03% above it's low while EOS' is +890%. I am short EOS:BTC from 0.0008856 with orders set to add as soon as yellow trend line breaks down. That would also confirm the bear flag/head and shoulders that has been forming. I firmly expect it to retest it's lows from last winter, below 1,000 sats' and plan to short it all the way down.
Comment
⋅
Shorting EOS:ETH' seems like an even better bet. Currently on a green 6 which indicates three more days to the upside. That lines up perfectly with ETH' falling into support and should be around the time EOS:BTC' breaks down the crucial trend support.
Trade active
⋅
Have started to build my position on EOS:ETH due to the shooting star candle and sharp pullback that followed. Have an order set to add to my position as soon as the trendline breaks down. Stop loss is set at 0.028709.
what do you think about EOS:BTC, i was waiting so far and maybe i can start shorting heavy. thank you
Sawcruhteez
⋅
@crocalbtc, I still think it is best to wait for the yellow trendline to breakdown. Setting a stop order to open a short at 0.0007474 is a great option. That will allow you to get in at the price you want without having to be by your computer 24/7. Good luck!
moviestar
⋅
but is shorting EOS to ETH also better in the longterm? ETH might still drop a lot during the next time, at least more than BTC seems to be expected?
Sawcruhteez
⋅
@moviestar, I think it is a much better play in the long term. Much more room to fall and similar risk as shorting it vs BTC.
crocalbtc11111
⋅
do you think i can start stacking shorts now, what do you think max price could be so i can decide about leverage, tnx boss.
@crocalbtc, @crocalbtc, You could start opening them now if you trade large positions and are concerned about getting fully entered. However if that is not the case then I think it is best to wait. By opening now you could have to wait a few days before the move and that could put you in danger of getting squeezed out before it happens. If opened now I would place the stop at 8601 sats'. If you wait for breakdown then I would feel comfortable with the stop at 8160.