Yesterday’s market action was basically a liquidity sweep, hitting both highly leveraged long and short positions particularly traders using 20x leverage or more.
The market has been moving like a roller coaster while making relatively small net moves. That’s usually a sign of a choppy, high-risk environment where excessive leverage can get punished in both directions. For now I still don’t see a clean, high-conviction entry. I’d rather stay on the sidelines than force a trade in the middle of this volatility.
Let the market establish a clearer direction, watch the key support and resistance levels, and wait for confirmation before entering.
No trade is better than a bad trade.
$BTC #crypto
The market has been moving like a roller coaster while making relatively small net moves. That’s usually a sign of a choppy, high-risk environment where excessive leverage can get punished in both directions. For now I still don’t see a clean, high-conviction entry. I’d rather stay on the sidelines than force a trade in the middle of this volatility.
Let the market establish a clearer direction, watch the key support and resistance levels, and wait for confirmation before entering.
No trade is better than a bad trade.
$BTC #crypto