Longs just got swept, and shorts are starting to line up
Killa recapped BTC’s action this week: it plunged from 87,000 to 80,000, completely sweeping the previous week’s low and liquidating leveraged longs across the board. Now he has his eyes fixed on 79,800, waiting for another dip to see if he can scoop up a bargain and go long. 83,600 is the line to watch—if BTC can’t get above it, it’ll keep grinding around in this range.
After the longs around 80,000 were cleared out, a large amount of liquidity piled up between 76,000 and 78,000. Market makers have buy orders waiting below 79,800. This sell-off was a leverage flush, and the high-level longs have already been cleared out. In the short term, the price will likely bounce toward 83,600 first, forcing late shorts who entered recently to close their positions. If it can’t break through, it’ll keep grinding lower. Even if it drops below 79,800, that would be a false breakdown, and the price will recover afterward.
If you’re still holding longs, what’s your entry price? If you got in above 80,000, are you already wondering how windy it is on the rooftop?
$BTC $ETH $SOL
Killa recapped BTC’s action this week: it plunged from 87,000 to 80,000, completely sweeping the previous week’s low and liquidating leveraged longs across the board. Now he has his eyes fixed on 79,800, waiting for another dip to see if he can scoop up a bargain and go long. 83,600 is the line to watch—if BTC can’t get above it, it’ll keep grinding around in this range.
After the longs around 80,000 were cleared out, a large amount of liquidity piled up between 76,000 and 78,000. Market makers have buy orders waiting below 79,800. This sell-off was a leverage flush, and the high-level longs have already been cleared out. In the short term, the price will likely bounce toward 83,600 first, forcing late shorts who entered recently to close their positions. If it can’t break through, it’ll keep grinding lower. Even if it drops below 79,800, that would be a false breakdown, and the price will recover afterward.
If you’re still holding longs, what’s your entry price? If you got in above 80,000, are you already wondering how windy it is on the rooftop?
$BTC $ETH $SOL