Bitcoin just hurt shorts AND longs inside the same 24 hours. ๐ฎโ๐จ
Quick timeline:
๐ BTC bounced from about $75.6K to over $80K after the US midterms. Short sellers lost about $378M in a single hour.
๐ Then a Nasdaq chip sell-off hit, and BTC gave it back, falling to roughly $76K. Another $213M was liquidated, and 90% of it was longs.
Nobody was โrightโ for long. Over-leveraged traders on both sides paid for it.
Three things Iโm taking from today:
1๏ธโฃ Leverage doesnโt punish being wrong. It punishes being early, late, or just unlucky on timing.
2๏ธโฃ Levels to watch: about $75.6K below and $80K above (the crypto.news figure), with resistance around $81โ82K.
3๏ธโฃ Friday brings options expiry and the jobs report, so more volatility is possible.
The market will be here tomorrow. Your capital needs to be too.
Which side were you on today: long, short, or watching from the sidelines?
Tell me below ๐ (no judgment, weโve all been there)
$BTC #bitcoin #CryptoMarketAlert #Liquidations #RiskManagementMastery #BinanceSquare
Quick timeline:
๐ BTC bounced from about $75.6K to over $80K after the US midterms. Short sellers lost about $378M in a single hour.
๐ Then a Nasdaq chip sell-off hit, and BTC gave it back, falling to roughly $76K. Another $213M was liquidated, and 90% of it was longs.
Nobody was โrightโ for long. Over-leveraged traders on both sides paid for it.
Three things Iโm taking from today:
1๏ธโฃ Leverage doesnโt punish being wrong. It punishes being early, late, or just unlucky on timing.
2๏ธโฃ Levels to watch: about $75.6K below and $80K above (the crypto.news figure), with resistance around $81โ82K.
3๏ธโฃ Friday brings options expiry and the jobs report, so more volatility is possible.
The market will be here tomorrow. Your capital needs to be too.
Which side were you on today: long, short, or watching from the sidelines?
Tell me below ๐ (no judgment, weโve all been there)
$BTC #bitcoin #CryptoMarketAlert #Liquidations #RiskManagementMastery #BinanceSquare
