Markets
Top Trader is long on Bitcoin, Ethereum, short on Litecoin, Cardano… and thinks the time of the Shiba Inu is over
Cryptocurrency researcher Trade the flow on Thursday offered trading ideas to navigate the current sideways price movement in the cryptocurrency markets.
What happened: Trade The Flow suggested that trading long/short pairs could be an effective strategy in these volatile conditions and offered several trading ideas.
Among his suggestions were long positions on Bitcoin BTC/USD e Ethereal ETH/USD, combined with short positions on Litecoin LTC/USD and Cardan ADA/USD, respectively. He reasoned that BTC and ETH are leading the market and have potential catalysts ahead such as the Ethereum ETFswhile LTC and ADA have no real network and activity effects.
Among his many strategiessuggests the desire Pendel PENDLE/USD and Short Selling Ondo Finance WORLD/USD. While both have similar narratives, there are huge discrepancies in the protocol metrics.
In the universe of meme coins, it includes desire Pepper PEPE/USD and short selling Shiba Inu Dog SHIB/USD, as the former is the most established meme in crypto culture that continues to capture a lot of market attention. According to him, the Shiba Inu’s time has passed.
Meanwhile, on the PEPE/ETH pair, the trader said: “If you see PEPE as a high beta for ETH, then this pair trade can cushion your downside a bit if the market is down, but you still have a lot of upside if it goes up.”
Because matter: Trade The Flow’s insights provide a unique perspective on current market conditions and potential trading strategies. His long/short pair trading tips could help traders navigate market volatility and potentially generate profits even in a bear market.
However, as with any trading strategy, traders should do their own research and consider their risk tolerance before making any trades. As Trade The Flow himself noted, “There are endless pair trade combinations, and this is just a sampling of some of them.”
The trader added that these types of trades allow one to be more market neutral and smooth out profits and losses on the downside and build a larger position.
What’s next: The influence of Bitcoin as an institutional asset class it is expected to be explored in depth at the next Benzinga The future of digital assets event on November 19th.
Read later: Raoul Pal Predicts Cryptocurrency Boom in Q4 of Election Year, Calls It ‘Banana Zone’
This content was produced in part with the help of artificial intelligence tools, and was reviewed and published by Benzinga editors.
Image: Shutterstock