Nothing all too technical besides the overextension that we have seen. Mostly a short-hunt in my opinion. I am mostly founding this short on the recent performance BINANCE:YFIUSDT had. For those who are new, YFI is a genius-shitcoin that once was deemed to be the next btc I guess? AFAIK there were no recent developments / implementations made but I stand to be corrected. 50% gain in this short period seems just too much eh? Perhaps it is a bit more overextended compared to BITSTAMP:BTCUSD but in a more distilled way. Shitcoins like this paint a perfect picture of the human greed and we can sometimes use them as refrences.
TP's really arbitrary, yet I am following a close line around the ascending diagonal line cause it might act as a support.
Trade active
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Almost stopped but not prosition seems to be in the green. Not really convincing yet.
Trade closed: stop reached
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Good setup, bad entry / positioning. Trade closed.
Per Jonn J Brown : "A 10x long paying 3bps funding per 8-hour window pays 0.9% of initial capital per day. To keep such positions open, prices need to go up.
Absent a price appreciation in the next days, expect a correction caused by longs being flushed out."
Id_buy_it_for_a_dollar
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3 most massive short liquidations in a row, this genius comes suggesting to short all-in. Sure way to go broke. So go ahead, and short. The rest of us will enjoy seeing you liquidated.
Wired2k87
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@vitaly-t you do realize we are still in an overall bear market right? zoom out then hasn't been a higher high on the htf. bears are still strong lol. asich as I hate it. gotta call a spade a spade.
Id_buy_it_for_a_dollar
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@Wired2k87, It'll likely hit 40k before any serious pullback, if at all. Right now it is very strong, above 37k.
dicetrade
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@vitaly-t, I am overall long, just testing an obvious setup. Btc can pull back and still be in an uptrend duh
Absent a price appreciation in the next days, expect a correction caused by longs being flushed out."