I just scalped a small bit long on the AB leg on this and bailed when I saw a very large seller flashing size in Bookmap. I don't really like trading whaley coins like this where it's clear that even a medium size whale can knock price around by spoofing the bid ask ladder.
However at the moment it's the main mover on binance futures so it's on my watch list.
I would not short the BC leg because overall I think cryptos are at a point where they can snap back pretty fast due to short covering rallies. A safer and more interesting setup will be to look for accumulation shapes near a tag of the prior 3 point at $3 or so.
Even as I write this I am watching it sail higher up past the area where the seller had flashed size so it's the kind of thing where getting too eager to trade is probably going to result in whipsaws. I'm putting this one on the back burner until it's at an elliot wave count that has better RRR.
However at the moment it's the main mover on binance futures so it's on my watch list.
I would not short the BC leg because overall I think cryptos are at a point where they can snap back pretty fast due to short covering rallies. A safer and more interesting setup will be to look for accumulation shapes near a tag of the prior 3 point at $3 or so.
Even as I write this I am watching it sail higher up past the area where the seller had flashed size so it's the kind of thing where getting too eager to trade is probably going to result in whipsaws. I'm putting this one on the back burner until it's at an elliot wave count that has better RRR.