This market just keeps falling. If the weekly chart forms a big wick, it could drop to 60,000. #BTC My long positions and hedges are already down $10,000.
A reminder to everyone in the square: if you can’t manage your liquidation risk, don’t stubbornly hold a long position with a far-off liquidation price. If it breaks below 65,000, cut your losses decisively—don’t let one big move wipe you out. You can’t imagine how ruthless the market makers get when they want to liquidate traders.
If you want to bet on a long downside wick, place an order around 58,000 and wait to see if you can get filled. Just set a stop loss 1,000–2,000 points below.
A reminder to everyone in the square: if you can’t manage your liquidation risk, don’t stubbornly hold a long position with a far-off liquidation price. If it breaks below 65,000, cut your losses decisively—don’t let one big move wipe you out. You can’t imagine how ruthless the market makers get when they want to liquidate traders.
If you want to bet on a long downside wick, place an order around 58,000 and wait to see if you can get filled. Just set a stop loss 1,000–2,000 points below.