I'm not betting against a chart like this.
I'm sticking with my 2x long position and accepting the risk.
Either we see a 50% drop and my position is liquidated, or I ride a 150% move to the upside.
Those are odds I'm willing to take... $BTC
Marcus Aurelius was right. You will lose friends you will lose lovers you will lose comfort but if in losing them you find yourself you have gained more than kings.
The Kingfisher’s liqmaps: mapping the Bitcoin last 2 years
In light of the past few days’ arguably terrible price action, let’s walk back the past — see what the liquidations maps have been telling us, what happened to the price action, and what’s in store for the future of Bitcoin and crypto markets
Let’s analyze the Kingfisher’s All leverage liquidation maps 🧵
September 7th, 2024
The nearest major short liquidation node was cleared within 24 days, marking a 20% upside move. Note the arrow pointing to the furthest short liquidation level, which outlined the future range nearly three months in advance.
$BTC reversed at 73,668.
Now sitting between two liquidation zones:
🔴 76K: short cluster above
🟢 73.6K -> 50K: long liquidation stack below
The 76K short flush is a speed bump. Break below 73.6K? Forced long liquidations stack all the way to 50K. Each one adds more sell pressure on the way down. ⚠️