I’ve been continuously issuing trend warnings since the time the price was reaching its peak, even though there was a lot of opposing reaction from people.
Prices can keep going up, but the market always has its cycles - being stubborn only makes you lose more. Right now, price is moving back toward the next major resistance zone.
$318M in long positions wiped out since the US market open.
Longs aren’t just losing, they’re getting forced out. In the past 24 hours, liquidation data shows a clear imbalance, with longs taking almost all the damage while shorts remain relatively untouched.
This move isn’t about direction being wrong. It’s about leverage being too crowded at the wrong time, right as US session volatility kicked in.
When liquidations stack like this, the market is usually doing one thing: resetting positioning, not confirming a trend.
The real question now isn’t whether price bounces or not, but how much leveraged risk is still sitting underneath.