$BTC view: $82Kโ$79K is my key zone for a potential higher low. I expect one of these levels to trigger a bounce.
What stands out: BTC hit ~$82.5K, yet the altcoin market has stayed relatively resilient without broad panic. If support holds, Iโm watching $85Kโ$87K next.
For the past 6 months, there has been a liquidation event every 2 weeks (+\- 2 days)
Highly important crypto post. I recommend every crypto trader to go through this. All of what am saying is backed by research data.
After doing some Deleveraging (liquidation) events analysis few weeks back I was able to identify that market makers are scheduling a bi-weekly deleveraging event like the one we just saw today. Where alts flush surprisingly and too quickly. The goal of those events is to DE LEVERAGE. In other words liquidate high leverage traders.
Studying this made me able to issue warnings to my subscribers of the last 2 deleveraging events but not the one from earlier today. This one took me by surprise so I had to recalculate & go through the data once more.
I had to go and re-analyse everything. After updating my research it has come to my attention that the liquidation events are escalating in frequency and & are now happening every 5-7 days.
Even if the general market condition is upwards. A deleveraging event will take out all high leverage longs within minutes before going back to uptrend.
This takes me back to my advice post yesterday on why the highest you must go as a normal trader is 2-3x & as a professional with a lot of margin 4-5x.
These guys have no mercy and we must adapt or be taken out.
Over $7M in shorts liquidated over the past 24h, with $41M in open interest and a long/short ratio of just 0.55 on $RLC
The more shorts pile in the higher it goes ๐
#RLC#iExec#AI
@Mattertrades Iโm not ruling out a correction to the $72โ74K zone. Itโs absolutely possible But thereโs a difference between being bearish and spreading misinformation to make the bearish case
Iโll be bearish when you stop lying.