Picture this: last week $BTC slipped below a support that had been tested three times without breaking.
Traders who treated that level as unbreakable found themselves underwater fast, unsure whether to exit or wait for the usual bounce that never quite arrived.
The move started slow. A few large sells, then liquidations piled on as the price failed to recover.
In a greed reading of 63, most were still looking at alt pumps in $FIL and others instead of the weakening structure on Bitcoin. What a lot of people missed was the quiet rotation into $USDT as volume dried up on every attempt to reclaim the level.
These kinds of breaks tend to bring more downside if they stick. The lesson here is that holding through a confirmed breakdown often costs more than cutting early, especially with leverage in play.
Where do you think this goes from here?
#BTCFallsBelow #SECApproves3XBitcoinETF #StrategyEstimates
Traders who treated that level as unbreakable found themselves underwater fast, unsure whether to exit or wait for the usual bounce that never quite arrived.
The move started slow. A few large sells, then liquidations piled on as the price failed to recover.
In a greed reading of 63, most were still looking at alt pumps in $FIL and others instead of the weakening structure on Bitcoin. What a lot of people missed was the quiet rotation into $USDT as volume dried up on every attempt to reclaim the level.
These kinds of breaks tend to bring more downside if they stick. The lesson here is that holding through a confirmed breakdown often costs more than cutting early, especially with leverage in play.
Where do you think this goes from here?
#BTCFallsBelow #SECApproves3XBitcoinETF #StrategyEstimates
