BITCOIN - Bears Sing 7 Minute Song 🎤

Bears were in song for all of about 7 minutes earlier today as BTC flash dumped.

But these are all just whale games; finding ever more aggressive ways to shakeout traders foolish enough to play with leverage and stop losses in such highly controlled waters.

So enormous fast dump with maximum panic and stop losses triggered.

On the chart you can see that the dump low was just below the orange trading range low and also just below the Supply Line.

So this was a double liquidity pocket.

I did call the trading range low of $29569 as a great buy the dip opportunity but you know how it goes - I didn't get time to also come and publish that here in real time.

But as you can see; having an awareness of the liquidity pocket provided a great opportunity to buy!

See you @ $174K

Not advice.

Comment:

Up to the day candle and yesterday's close printed an enormous Spinning Top Doji. This is what I now call a Loop the Loop Shakeout! Just like a fairground ride; completing a full circle, shaking out traders via stop loss or liquidation (or manual panic quit 😅). The very small candle body shows price closing at almost the exact same point that it opened; completing the loop.

So for traders that simply dollar cost average buy spot through the market cycle; nothing just happened. For us; we bought the dip on BTC, altcoins and crypto stocks. For anyone trading where volatility influences price such as Options; prices are now higher due to IV expansion which is better for holders but worse for anyone looking to buy such instruments post Loop as IV may later contract to deflate prices.