The panic index has bottomed out at 28, with two major market maker signals pointing downwards - I have taken the opposite position and gone double short.

The technical aspect of BTC has already broken down severely: the 3-hour RSI is at 33, and the MACD is at an outrageous negative value; the price needs to drop to the 20EMA for a breather. ETH is also following the same old pattern, with an RSI of 29 showing no hopes for a rebound. There are no signs of slowing down in the downtrend on the 4-hour level; it just waits for the market maker to average down one more time before it can continue to crash.

The funding rates are all negative. While others are betting on a rebound, I'm just waiting for them to take losses. There's still nearly 40% margin used in the account, and the risk limit is sufficiently loose, with the liquidation price being absurdly far away. If there's a technical reversal during this wave, I'll withdraw then; for now, I'm just holding on.

News from Venezuela, Upbit being hacked, the Bank of Korea manipulating - these shocks are coming one after another, and now we are in a true phase of human panic. I just need to wait for the moment when the market calms down.
#BTC #ETH #做空 #GateAI人机对抗赛 #GatePerps