🤬 Panic sale in the market? $BTC
As expected, the market was pulled down by the poor CPI data, triggering mass liquidations of longs totaling around $1 billion, while some whales began taking profits they’d been holding since August.
Overnight, we hit another low for the range, dropping to $80.2k. From a chart perspective, the market is now focused on holding the ~$80k zone for BTC. A break below would open the way to lower levels, which we’ll very likely see.
Essentially, the market is still playing out the scenario I wrote about at the beginning of the month. We’re still expecting the main climax and key catalyst closer to the elections, but we could start drifting lower sooner.
Technically, this correction had been a long time coming, so anyone who had built speculative positions should already have taken some profits and been prepared for this kind of scenario.
I’ve written about this more than once, and recently made a video specifically about taking profits. Another video from him is coming out today, about potential risks and a panic sale.
As expected, the market was pulled down by the poor CPI data, triggering mass liquidations of longs totaling around $1 billion, while some whales began taking profits they’d been holding since August.
Overnight, we hit another low for the range, dropping to $80.2k. From a chart perspective, the market is now focused on holding the ~$80k zone for BTC. A break below would open the way to lower levels, which we’ll very likely see.
Essentially, the market is still playing out the scenario I wrote about at the beginning of the month. We’re still expecting the main climax and key catalyst closer to the elections, but we could start drifting lower sooner.
Technically, this correction had been a long time coming, so anyone who had built speculative positions should already have taken some profits and been prepared for this kind of scenario.
I’ve written about this more than once, and recently made a video specifically about taking profits. Another video from him is coming out today, about potential risks and a panic sale.