The swings continue 🎢

Last night there was another attempt to break our key support and reach a new high, but once again it was unsuccessful. After testing the $107,000 level, there was an immediate correction of almost 5%, which led to a mass liquidation of long positions totaling $470 million.

Long positions are being lured in more aggressively — and then immediately "shaved off," collecting all the main liquidity from the market.

As long as there is a prevailing bias towards long positions in the market, we will regularly observe sharp liquidations in both directions. Therefore, be prepared for strong local pullbacks in the near future.