If you're still shorting every small $BTC rally after a dip, stop now.
Traders keep getting liquidated by fading these moves and it's costing them real money. A modest bounce is enough to wipe out leveraged shorts who refuse to accept the current direction.
Bitcoin climbed just $3,000 since last night but that triggered $400 million in liquidations, almost half a billion. The size of those numbers reveals how many are still betting on a downtrend in $BTC and alts like $ETH . Small recoveries after minor dips keep catching the shorts and forcing them out.
Some view this as a sign the market is weak and a larger correction is coming. I disagree. The persistent liquidations on the upside make the case for an ongoing uptrend. The path of least resistance still looks higher even if the gains are not dramatic.
What's your take? Are these liquidations just shorts getting squeezed or the start of something bigger?
#Bitcoin #Crypto #Liquidations
Traders keep getting liquidated by fading these moves and it's costing them real money. A modest bounce is enough to wipe out leveraged shorts who refuse to accept the current direction.
Bitcoin climbed just $3,000 since last night but that triggered $400 million in liquidations, almost half a billion. The size of those numbers reveals how many are still betting on a downtrend in $BTC and alts like $ETH . Small recoveries after minor dips keep catching the shorts and forcing them out.
Some view this as a sign the market is weak and a larger correction is coming. I disagree. The persistent liquidations on the upside make the case for an ongoing uptrend. The path of least resistance still looks higher even if the gains are not dramatic.
What's your take? Are these liquidations just shorts getting squeezed or the start of something bigger?
#Bitcoin #Crypto #Liquidations
