BTC plummeted 8,000 points in the early morning. All the high-leverage long positions were cleared, and when I woke up, my positions were blown up. What should we do if this situation happens again?
Hello everyone, I am Agan, let me tell you about the situation of the 10,000-point plunge in the early morning When Bitcoin hit the high point of 104600 yesterday, it began to fall back. It stayed at a high level for about 12 hours and then began to fall. The lowest point was 97900. It began to stabilize and rebound at a small level. It rebounded to 99500 at the highest point. After rebounding 1600 points, it began to fall slowly and fell to 97900 near the previous low. Then it accelerated and plummeted to 90200 in 1-2 minutes. That is, it fell more than 7000 points in 1-2 minutes. If you add yesterday's high point to the low point, Bitcoin fell by 14000 points.
This wave of BTC market crash is entirely to clear the high leverage of the contract. The long orders with more than 10 times the price have basically been blown up, and the stop loss near 91,000 has basically been plugged. This is a common way for bull market makers to clean up the longs in order to prepare for the next wave of sprints. Otherwise, at this high level, everyone is holding long orders and there is no way for the market makers to stabilize the market and continue to climb up.
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