We previously posted our idea about how ETHW would likely be pumped and how we would plan to short the top rather than riding the pump. We think riding pumps is usually riskier than simply shorting them at the peak.
Anyway, we can see that the price did NOT form a Scam Top yet. This means that it *probably* didn't peak yet. Now, it does not *require* a scam top to peak, but it is very likely that this will occur. Because of this, we are not short yet. We are waiting for the price to make a terminal leg upwards, clean out all the shorts, and then start really tanking. We might not ever get a fill on our shorts, and that is okay. We will be patient, and more opportunities are always right around the corner.
As much as we try to forecast it, the price can do whatever the market manipulator wants. If he wants to make it peak out at 14 bucks, who are we to argue?
Anyway, we can see that the price did NOT form a Scam Top yet. This means that it *probably* didn't peak yet. Now, it does not *require* a scam top to peak, but it is very likely that this will occur. Because of this, we are not short yet. We are waiting for the price to make a terminal leg upwards, clean out all the shorts, and then start really tanking. We might not ever get a fill on our shorts, and that is okay. We will be patient, and more opportunities are always right around the corner.
As much as we try to forecast it, the price can do whatever the market manipulator wants. If he wants to make it peak out at 14 bucks, who are we to argue?
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.