Here is a potential short, but has a lot of variables for it to work out.
Since we are playing with leverage, I suggest using a small amount of capital and not using more than 5x-10x.
The chart is showing a double top at the $1.158 area.
For this short to work out we need BTC to have a correction from $10,000.
If BTC decided to correct, we can expect for the TOMO-BTC pair to also have a major correction.
Since May TOMO-BTC has went up 250%, if BTC drops in price and TOMO-BTC price drops as well, we can have an accelerated drop in TOMO-USD, making this short really tempting.
As I said, there are too many variables for this play to work out, be careful when playing with leverage.
Since we are playing with leverage, I suggest using a small amount of capital and not using more than 5x-10x.
The chart is showing a double top at the $1.158 area.
For this short to work out we need BTC to have a correction from $10,000.
If BTC decided to correct, we can expect for the TOMO-BTC pair to also have a major correction.
Since May TOMO-BTC has went up 250%, if BTC drops in price and TOMO-BTC price drops as well, we can have an accelerated drop in TOMO-USD, making this short really tempting.
As I said, there are too many variables for this play to work out, be careful when playing with leverage.
Trade closed: target reached
ftx.com/shareable-pnl/published/24035
ftx.com/shareable-pnl/published/24301