BITCOIN DESTROYS SHORT POSITIONS AND CONTINUES UP🚨
As signaled yesterday, the bullish structure that was born with a spot buy intensified with liquidations of short positions and we had a classic SHORT SQUEEZE.
More than $3 BILLION in short positions were liquidated in crypto in the last 24 hours.
Those short positions were near-by and were broken, but the price looks like it wants to seek the next region, extending up to $77K.
Below the current price, we left a large area of long positions between 60-62k, and after that, a bigger one at $57k.
Since spot buying pressure is still high, we can’t expect a quick return to the lower regions. Therefore, if you missed the move, use caution when adding shorts here.
The thesis I shared over the past two weeks about the local bottom and volatility expansion has come true. But now navigating in high volatility is even more complex.
Liquidity moves markets. We’re staying with it. #BTC
As signaled yesterday, the bullish structure that was born with a spot buy intensified with liquidations of short positions and we had a classic SHORT SQUEEZE.
More than $3 BILLION in short positions were liquidated in crypto in the last 24 hours.
Those short positions were near-by and were broken, but the price looks like it wants to seek the next region, extending up to $77K.
Below the current price, we left a large area of long positions between 60-62k, and after that, a bigger one at $57k.
Since spot buying pressure is still high, we can’t expect a quick return to the lower regions. Therefore, if you missed the move, use caution when adding shorts here.
The thesis I shared over the past two weeks about the local bottom and volatility expansion has come true. But now navigating in high volatility is even more complex.
Liquidity moves markets. We’re staying with it. #BTC