Michael Burry tweeted about this a little while ago. I've been monitoring it for a month or so while the price has been ping-ponging around the $35,000 - $30,000 range.
If price dips and maintains below $32K, the pattern is confirmed it's going to tumble or crash hard. Like the broad equity market, the amount of leverage traders hold is quite likely off the charts.
If BTC tanks, the market will likely follow.
If price dips and maintains below $32K, the pattern is confirmed it's going to tumble or crash hard. Like the broad equity market, the amount of leverage traders hold is quite likely off the charts.
If BTC tanks, the market will likely follow.
Comment:
Stayed alive in part thanks to fiscal stimulus. Double top (both short term and long term). Under $33K will be a major problem.