Degen

If people keep using giga-leverage, market makers will remain incentivised to chop the market up.

Heavy amount of eth longs will get liquidated if we drop to 2550. Shorts get liquidated around 2750.

This setup incentivises MMs taking the path of least resistance - free cash for the taking if they drop eth by $70.

And there it is, eth longs at $2550 drained.

Wouldn’t rule out a return to $2700 following this. Lot of shorts there for the taking.

Will depend on how the market re-arranges liquidity for the Monday open imo.

Steer clear of leverage atm. Kraven the Hunter shit going on out there.

e/acc || Building @ /nova || Catgirl maxi @ /imgnai || Dogecoin core dev 2013/14

Developer/Builder.
Snob.
Fren.
Hodler.
Based mmfer.

We do some music enjoying. We shoot some hoops. We degen with the homies.

A lot of it is honestly just learning from experience - simple indicators like moving averages are one of the best places to start imo.

Try avoid falling into the trap of studying overly complex stuff, when about 90% of that is just noise.

You able to point to any good resources for learning more about market fundamentals like this? Market making, funding rates, etc

The point of showing you MM manipulation is to discourage you from using leverage 💀

Still a hotspot of short liquidity around 98k though. The hotter it gets, the more likely we surge into it to liquidate those shorts.

But only if people don’t make an even juicier target by opening longs below it.

I had longs on BTC though and your earlier cast about this gave me more conviction to take the trade.

direct link: https://www.coinglass.com/pro/futures/LiquidationHeatMap

Please how can I navigate the coin glass site to access this chart. I tried exploring but it’s a tad confusing. I couldn’t find this.

eth will soon go to get the fvg of 3k ( my take profit is here ) this are must be cleaned soon so as to reevaluate how eth will move from there

i dont trade eth cos its always disappointing but lines up nicely with liqs on btc. 102k next i hope

Fascinating state of the market right now, big liquidation event started a new meta and putting all leverage traders out of business 🫡 

One of my positions jumped from 50% LTV to 80% back to 40% during the event.

Based Warpcast user

$DEGEN Holder

shazam.degen.eth

No idea - eth’s gotta stop nuking before alts can realistically have a long-term chance.

If eth is casually putting in -30% candles, alts paired with eth will get hit significantly harder.

Do you know when our tokens gonna explode 
Im really sick of these down shifts hhhhh