Repost, go long directly
When the dip at nine o'clock fell to around 118,500, eight million dollars in long leveraged positions were liquidated, while there was also a phenomenon of over twenty million dollars in short positions being forced liquidated. Experienced traders should know that while someone shorted Bitcoin, they simultaneously went long on altcoins and Ethereum, which were also liquidated.
What does this have to do with the subsequent price movement? A lot. The rapid rebound brought by this sudden drop in pressure has already been seen. Few dare to short in the subsequent market; they will wait to enter at higher levels. Meanwhile, the short positions that are set up in the intermediate layout will clash with the longs trying to average down and recover.
The market's M-top is becoming more complete, and there is a willingness to attempt to test the neckline upwards, which whales are happy to see. Because they also expect higher short positions to give way slightly. The accompanying high-leverage heavy positions that are short can also be liquidated. Therefore, the most ideal outcome here is to go long, first looking to test around 112,500; if broken, it can test 114,000, but it may also pull back. Regardless, going long for a short-term trade will not be wrong; enter long with Ethereum and set a stop loss together. $BTC $ETH
When the dip at nine o'clock fell to around 118,500, eight million dollars in long leveraged positions were liquidated, while there was also a phenomenon of over twenty million dollars in short positions being forced liquidated. Experienced traders should know that while someone shorted Bitcoin, they simultaneously went long on altcoins and Ethereum, which were also liquidated.
What does this have to do with the subsequent price movement? A lot. The rapid rebound brought by this sudden drop in pressure has already been seen. Few dare to short in the subsequent market; they will wait to enter at higher levels. Meanwhile, the short positions that are set up in the intermediate layout will clash with the longs trying to average down and recover.
The market's M-top is becoming more complete, and there is a willingness to attempt to test the neckline upwards, which whales are happy to see. Because they also expect higher short positions to give way slightly. The accompanying high-leverage heavy positions that are short can also be liquidated. Therefore, the most ideal outcome here is to go long, first looking to test around 112,500; if broken, it can test 114,000, but it may also pull back. Regardless, going long for a short-term trade will not be wrong; enter long with Ethereum and set a stop loss together. $BTC $ETH
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