✏️ In the current situation 🙌
In just one day, they liquidated shorts so aggressively as they haven't done in over a year, and lately they had started feeding them too much. The market made us forget about strong bounces, which caused short sellers to start getting way too cocky. I think the current wipeout is happening in order to neutralize the majority of short sellers in the market, those who have already forgotten that the market can go up
Now after such a rise, the crowd will once again set their sights on Bitcoin at $80-90k, get people into positive expectations, and after that they will drop the market even harder and send us quickly to a new bottom in this cycle. So locally, longs are still acceptable, and only after the necessary confirmation on the daily timeframe, but we must not forget that we haven't exited the bear cycle yet
In just one day, they liquidated shorts so aggressively as they haven't done in over a year, and lately they had started feeding them too much. The market made us forget about strong bounces, which caused short sellers to start getting way too cocky. I think the current wipeout is happening in order to neutralize the majority of short sellers in the market, those who have already forgotten that the market can go up
Now after such a rise, the crowd will once again set their sights on Bitcoin at $80-90k, get people into positive expectations, and after that they will drop the market even harder and send us quickly to a new bottom in this cycle. So locally, longs are still acceptable, and only after the necessary confirmation on the daily timeframe, but we must not forget that we haven't exited the bear cycle yet