THIS IS UNBELIEVABLE.
$BTC has been going straight down only without any bounce.
MMs are not allowing a single long to stay and wiping out every downside liquidity.
Right now, there are $23.85 billion in shorts compared to only $1.74 billion in longs.
Also, shorts are fully confident now and adding on to their positions after every small upward move.
What could go wrong for bears?
$BTC bottom scenarios I'm prepared for:
200W: $62,024 (You are here now)
250W: $57,747 (Likely to be hit)
300W: $54,091 (Possible)
350W: $47,615 (Unlikely but BIG opportunity)
If Bitcoin drops even lower, I buy more.
But history says it won't.
I have $20,000,000+ in $BTC long limit orders waiting in these zones.
Dammn...
$1.65 Trillion has been wiped out from gold and silver in the last 18 hours.
This is more than the entire market cap of Bitcoin and ETH combined.
Interesting Bitcoin weekly close
-Price closed above the previous Feb 6 low
-Weekly RSI forming a possible bullish divergence
-Stop-losses below the February low were swept, triggering billions in liquidations
-Price also closed above the 200-week SMA