The liquidation data for Bitcoin this time is too exaggerated!

In just 12 hours, long positions worth 15 million USD were liquidated, and another 7 million in just 4 hours, which means that nearly half of the recent long positions have been harvested by the market. What's outrageous is that all these liquidations are squeezed into a small range between 1066 and 1063, illustrating how fierce the battle between bulls and bears has been.

However, to be honest, the bears are just bluffing right now. Although they have temporarily pushed the price down, the actual force behind the sell-off is simply insufficient. Currently, there are buy orders waiting to catch the bottom around 10600; unless some major bad news suddenly comes out, or the bulls with these pending orders get scared off themselves, the market will continue to oscillate and muddle along.

My personal advice to those trading short-term is to not get too carried away! In this kind of market, if you see profits, you should quickly pocket them and not always wait for the highest point. At this position, both sides are testing each other; for us small retail investors, the safest strategy is to enter and exit quickly, and definitely don’t become the bag holder!

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Still don’t know how to operate in this kind of market? Follow me, I’ll provide the strategy, and the execution power is up to you!