Longs took most of the damage in the last 24 hours. 💥
Longbridge reported on 4 November, citing Woofun AI on chain data, that about 52.52 million dollars of Bitcoin positions were liquidated in 24 hours, of which about 59.1 percent, or 31.06 million dollars, were long positions. 📉 My reading is that this is a classic range trap, because price pushed toward 77,966, pulled longs in near the top, then slipped back toward 76,708 and flushed them. Liquidations like this do not prove a trend change, they prove leverage was standing in the wrong place at the top of a range.
Are you trading this range with leverage, or keeping size small until a real break? 🤔
Follow for more trades.
#Crypto #Bitcoin #FuturesTrading #TradingSignals #CryptoNews
Longbridge reported on 4 November, citing Woofun AI on chain data, that about 52.52 million dollars of Bitcoin positions were liquidated in 24 hours, of which about 59.1 percent, or 31.06 million dollars, were long positions. 📉 My reading is that this is a classic range trap, because price pushed toward 77,966, pulled longs in near the top, then slipped back toward 76,708 and flushed them. Liquidations like this do not prove a trend change, they prove leverage was standing in the wrong place at the top of a range.
Are you trading this range with leverage, or keeping size small until a real break? 🤔
Follow for more trades.
#Crypto #Bitcoin #FuturesTrading #TradingSignals #CryptoNews
