Markets
The best trader is Long Bitcoin, Ethereum, Short Litecoin, Cardano… and thinks the days of Shiba Inu are over
Cryptography researcher Swap the feed THURSDAY proposed trading ideas to navigate the current sideways price action in crypto markets.
What happened: Trade The Flow suggested that trading long/short pairs could be an effective strategy in these choppy conditions and offered several trading ideas.
Among his suggestions were long positions on Bitcoin BTC/USD and Ethereum ETH/USD, associated with short positions on Litecoin LTC/USD and Cardano ADA/USD, respectively. He opined that BTC and ETH are leading the market and have potential catalysts like the Ethereum ETFwhile LTC and ADA lack network effect and real activity.
Among its many strategiesit suggests desire Pendulum PENDLE/USD and short selling Ondo Finance ONDO/USD. While both have similar narratives, there are huge differences in their protocol metrics.
In the universe of the same corners, it includes desire Pepe PEPE/USD and short selling Shiba Inu SHIB/USD, as the former, is the most established meme in crypto culture that continues to attract a lot of market attention. Shiba Inu’s time is over in his opinion.
Meanwhile, on the PEPE/ETH pair, the trader said: “If you view PEPE as a high beta for ETH, then this trade on the pair can soften your downside a bit if the market is down, but you still have plenty of upside potential if it goes up.”
Why is this important: Trade The Flow’s insights provide a unique perspective on current market conditions and potential trading strategies. His suggestions for trading long/short pairs could help traders manage market volatility and potentially generate profits even in a bear market.
However, as with any trading strategy, traders should do their research and consider their risk tolerance before making any trades. As Trade The Flow himself noted, “There are endless pairs trading combinations, and this is just a taste of some of them.”
The trader added that these types of transactions allow you to be more neutral in the market, smooth profits and losses downwards and build a larger position.
And after: The influence of Bitcoin as an Institutional Asset Class should be explored in depth in Benzinga’s next project The future of digital assets event on November 19.
Read more : Raoul Pal predicts cryptocurrency boom in Q4 of election year, calls it ‘Banana Zone’
This content was partially produced using AI tools and was reviewed and published by Benzinga editors.
Image: Shutterstock