1.47 billion dollars liquidated in 24 hours, and about 89 percent of it was longs. 💥
CoinGlass data verified by Altcoin Buzz and reported in the KWIZERANA brief shows about 1.47 billion dollars of leveraged crypto positions were liquidated in the 24 hours to November 13, roughly 89 percent of them longs, as Bitcoin fell through its 200 week moving average near 68,000 dollars to about 66,900. 📊 Bitcoin is now down almost 12 percent on the week, and the liquidation clusters sit above price at 70,000 and 75,000 dollars. My reading is that every dip buyer with leverage keeps getting wiped out, so this is still a market that punishes longs, not a bottom to chase.
When do longs stop buying the dip, after 62,000 breaks or after 70,000 reclaims? 🤔
Follow for more trades.
#Crypto #Bitcoin #FuturesTrading #TradingSignals #Liquidation
CoinGlass data verified by Altcoin Buzz and reported in the KWIZERANA brief shows about 1.47 billion dollars of leveraged crypto positions were liquidated in the 24 hours to November 13, roughly 89 percent of them longs, as Bitcoin fell through its 200 week moving average near 68,000 dollars to about 66,900. 📊 Bitcoin is now down almost 12 percent on the week, and the liquidation clusters sit above price at 70,000 and 75,000 dollars. My reading is that every dip buyer with leverage keeps getting wiped out, so this is still a market that punishes longs, not a bottom to chase.
When do longs stop buying the dip, after 62,000 breaks or after 70,000 reclaims? 🤔
Follow for more trades.
#Crypto #Bitcoin #FuturesTrading #TradingSignals #Liquidation
