Just Another Day in Crypto 173M LIQ!
Yesterday was actually a pretty ordinary day for the crypto market. #Bitcoin didn’t see any major price swings. It held steady within the range it’s been in for days and continued that way.
That said, we saw some sharp movements in a few altcoins, but when we look at the total liquidations, they weren’t that high.
Nevertheless, the picture we’re seeing is quite strange even on a normal day, we’re seeing liquidations worth nearly $200M. This shows us that people are being very aggressive in determining market direction; they’re taking such high risks that they get liquidated at the slightest movement and they’re getting punished for it.
In these situations, it’s always important to wait until the market structure forms and the direction becomes clearer before entering a trade.
I’m waiting even though my market outlook is bullish, I won’t take a trade until I see clear confirmation. My top priority should always be to avoid losing money! DYOR
Yesterday was actually a pretty ordinary day for the crypto market. #Bitcoin didn’t see any major price swings. It held steady within the range it’s been in for days and continued that way.
That said, we saw some sharp movements in a few altcoins, but when we look at the total liquidations, they weren’t that high.
Nevertheless, the picture we’re seeing is quite strange even on a normal day, we’re seeing liquidations worth nearly $200M. This shows us that people are being very aggressive in determining market direction; they’re taking such high risks that they get liquidated at the slightest movement and they’re getting punished for it.
In these situations, it’s always important to wait until the market structure forms and the direction becomes clearer before entering a trade.
I’m waiting even though my market outlook is bullish, I won’t take a trade until I see clear confirmation. My top priority should always be to avoid losing money! DYOR
