The market for $BTC continues to compress, and currently, altcoins have started to weaken. I want to use the coin screening tool to find some overheated coins to set up short positions...
The selected ones include $ASR $IP #PORT3 , etc., among which I believe ASR and IP have good short trading opportunities. From the data perspective, we can find:
1️⃣ ASR: Bullish chips are highly concentrated. Although there has not yet been a significant decline, the volume of short positions being liquidated has already dropped noticeably. Most short positions have been wiped out, and bullish momentum is also at a new high, indicating a short opportunity. The only thing to note is the possibility of a second peak; risk should be monitored.
2️⃣ IP: The concentration of chips has turned bearish, and whales are clearly leaning towards the short side. Bullish momentum is also continuously declining, signaling the end of the bullish trend. The maximum liquidation price for long positions on the liquidation map is around 5.356.
Additionally, #DOLO is a classic case of highly concentrated bullish chips (overheated) followed by a pullback after excessive bullish momentum... It may currently head down to sweep the large liquidation price of long positions at 0.132.
Data source: blave.org
