$BTC #BTC
$1.5 billion liquidated in 24 hours, and almost all of it was longs. That number should change how you trade today.
Here is what the data actually says, per CoinDesk and CoinGlass figures reported today: total liquidations hit $1.5 billion, Bitcoin alone accounted for $468 million and Ether for $358 million, and the Fear and Greed Index crashed from 51 to 30. Translation: traders who bought the dip early got wiped out before the bounce even started. That is the classic crash pattern. First the longs get flushed, then price bounces, then impatient traders long the bounce and get flushed again. My conclusion is simple. Do not revenge trade this market. Wait for a level, BTC $76,500 or $78,600, and trade the reaction there with small size. Cash is also a position when liquidations are this heavy.
Do you think the $1.5 billion flush is done, or is there one more wave of long liquidations coming below $76,500?
#Bitcoin #Crypto #FuturesTrading #TradingSignals
Follow for more trades.
$1.5 billion liquidated in 24 hours, and almost all of it was longs. That number should change how you trade today.
Here is what the data actually says, per CoinDesk and CoinGlass figures reported today: total liquidations hit $1.5 billion, Bitcoin alone accounted for $468 million and Ether for $358 million, and the Fear and Greed Index crashed from 51 to 30. Translation: traders who bought the dip early got wiped out before the bounce even started. That is the classic crash pattern. First the longs get flushed, then price bounces, then impatient traders long the bounce and get flushed again. My conclusion is simple. Do not revenge trade this market. Wait for a level, BTC $76,500 or $78,600, and trade the reaction there with small size. Cash is also a position when liquidations are this heavy.
Do you think the $1.5 billion flush is done, or is there one more wave of long liquidations coming below $76,500?
#Bitcoin #Crypto #FuturesTrading #TradingSignals
Follow for more trades.
