btcusd 8hours yi long ma caused liquidations target is 24000 USD

🔸Hello traders, let's review the 4 hour price chart for BTC today. Previously recommended
shorting high from resistance near 31 000 USD targeting 28 000 USD and 27 000 USD.
both targets hit with pinpoint precision. feel free to review the original BTC short via
link below.

🔸Chinese billionaire Yi Long Ma (*sarc) triggered the recent sell off event in crypto after
disposing 400 mln usd worth of BTC, this caused 1 bln USD + liquidations across the board
and all supports broke down and currently we are in DUMP mode trading near 27 000 USD.

🔸Prior to the recent liquidation we stayed in tight range after printing an insignificant
higher high near 31 500 USD, which turned out to be a major bull trap. Currently no visible
support in sight and most likely BTC will be dragged a lot lower towards 24 000 USD.

🔸Expecting a bear trap setup once the strong s/r near 25 500 usd is broken. potential
bounce play near 24 000 USD to re-test 28 500 USD, could be a decent trade, however
higher risk. Recommended strategy - see below.

🔸Recommended strategy BTCUSD bears: wait for price to complete the sequence near
24 000 USD and short sell from overhead resistance after the bounce play. best entry bears
will be near 28 500 USD, my final TP bears is 21 800 USD, which is almost 25% downside.
good luck traders!

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Comment:

SpaceX, the spacecraft engineering company owned by Elon Musk, sold all its holdings in Bitcoin, a Wall Street Journal report revealed, leading to a sharp sell-off late on Thursday and into early Friday trading.

The world's largest cryptocurrency dropped below US$25,000 after the sale was revealed, causing a ripple effect across the crypto community and leading to declines in Bitcoin-related stocks like Coinbase, Marathon Digital and Riot Platforms.

Having completely divested its Bitcoin holdings after two consecutive years of markdowns in the value of its holdings, Space X followed in the footsteps of Musk’s Tesla Inc (NASDAQ:TSLA) which, according to its 2022 third-quarter update, sold approximately 75% of its initial $1.5 billion investment.

"SpaceX wrote down the value of Bitcoin it owns by a total of $373 million last year and in 2021 and has sold the cryptocurrency," the Wall Street Journal said.

Comment:

weak bounce in progress today

Comment:

ethusd daily worst case scenario 50% correction