Longs and shorts both got wiped out—another Bart-pattern market.
The Nasdaq fell more than 2%, with chip and memory stocks collapsing across the board. The sell-off dragged down not just crypto, but heavy industrial stocks too. In 24 hours, $220 million in long positions and $110 million in short positions were liquidated—neither side got away unscathed.
The most frustrating thing about markets like this is that your read can still be right, but your position gets wiped out first.
My view is simple: until rate hikes are off the table, neither bulls nor bears can knock the other side out. In the short term, it’s just a choppy market. Don’t try to guess the direction right now. Wait for a breakout above resistance or a drop below support before considering an entry.
In a choppy market, staying alive matters more than making money fast. $BTC $ETH $SOL #Bitcoin
The Nasdaq fell more than 2%, with chip and memory stocks collapsing across the board. The sell-off dragged down not just crypto, but heavy industrial stocks too. In 24 hours, $220 million in long positions and $110 million in short positions were liquidated—neither side got away unscathed.
The most frustrating thing about markets like this is that your read can still be right, but your position gets wiped out first.
My view is simple: until rate hikes are off the table, neither bulls nor bears can knock the other side out. In the short term, it’s just a choppy market. Don’t try to guess the direction right now. Wait for a breakout above resistance or a drop below support before considering an entry.
In a choppy market, staying alive matters more than making money fast. $BTC $ETH $SOL #Bitcoin