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Top Trader Is Long Bitcoin, Ethereum, Short Litecoin, Cardano...And Thinks Shiba Inu's Time Has Passed

Crypto researcher Trade The Flow on Thursday offered trading ideas to navigate the current sideways price action in the crypto markets.

What Happened: Trade The Flow suggested that long/short pair trading could be an effective strategy in these choppy conditions and offered several trade ideas.

Among his suggestions were long positions on Bitcoin BTC/USD and Ethereum ETH/USD, paired with short positions on Litecoin LTC/USD and Cardano ADA/USD, respectively. He reasoned that BTC and ETH are leading the market and have potential catalysts ahead like the Ethereum ETF, while LTC and ADA lack network effect and real activity.

Among his many strategies, he suggests longing Pendle PENDLE/USD, and shorting Ondo Finance ONDO/USD. Although both have similar narratives there are huge discrepancies in their protocol metrics.

In the meme coin universe, he includes longing Pepe PEPE/USD and shorting Shiba Inu SHIB/USD, as the former is the most established meme of crypto culture that continues to catch a lot of market attention. Shiba Inu’s time has passed in his opinion.

Meanwhile, on the PEPE/ETH pair, the trader stated, “If you see PEPE as a high beta for ETH, then this pair trade can smoothen a bit your drawdown if the market is down, but you still have a lot of upside if it goes up.”

Also Read: Here’s How Bitcoin And Altcoins Will Behave ‘Until Fed Cuts Rates,’ According To Veteran Crypto Analyst

Why It Matters: Trade The Flow’s insights provide a unique perspective on the current market conditions and potential trading strategies. His suggestions for long/short pair trading could help traders navigate the market’s volatility and potentially generate profits even in a bearish market.

However, as with any trading strategy, traders need to do their research and consider their risk tolerance before making any trades. As Trade The Flow himself noted, “There are infinite combinations of pair trade, and this is just a glimpse of some of them.”

The trader added that these types of trades enable to be more market neutral and smoothen profit & loss to the downside and build a bigger position.

What’s Next: The influence of Bitcoin as an institutional asset class is expected to be thoroughly explored at Benzinga’s upcoming Future of Digital Assets event on Nov. 19.

Read Next: Raoul Pal Foresees Crypto Boom In Election Year’s Q4, Names It ‘Banana Zone’

This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Image: Shutterstock



This article was originally published by a www.benzinga.com . Read the Original article here. .

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