Well it looks like BTC was unable to get away from the selloff from last night. The intraday supports are being broken. Signs of the top are written all over the charts. Simply put, we'll see a little pullback. 42K? Maybe more? There are a lot of leverage longs to be liquidated and a lot of shorts to add for the fuel for another leg higher. This is what we call a long squeeze lol. I saw on another post that during our last bull run, we had 9 pullbacks on the way to 19K, with an average of -30% during each.
The takeaway is trade smart. Prepare for the worst and never leverage more than 10% on any given trade. Survive to trade another day. Enjoy the ride and BTFD
The takeaway is trade smart. Prepare for the worst and never leverage more than 10% on any given trade. Survive to trade another day. Enjoy the ride and BTFD