Bitcoin: Absolute Bottom
Like this idea my friend!
I expect Bitcoin to find absolute bottom here and I will explain why.
1) We've been dumping straight line from 60k for 13 days in a row with zero pullbacks.
2) Deleveraging liquidation event has already happened wiping out almost 800 million in one day at Binance.
3) Bitcoin dumped 30% in a day which is extremely rare. After it it dumped 15% and 14% again in a day, which is too much, because usually each 10% move at Bitcoin is being paid by moving in another direction for a week.
3) Altcoins dumped almost 50% in a day, btc dominance bounced 16% which is veeery big, usually after such a big and sudden move after no liquidity to dump the market and fuel left, recovery starts.
There's a possibility of 30k breakdown with a huuge stop hunt and big liquidations but this event will be priced in because we've been dumping straight line from 60k for 13 days in a row, that's why it should recover extremely fast creating a huge scam wick. This will be the last nail in the coffin.
Don't use leverage in such a volatile market cause it moves 5% in a minute now, manage your risk!
Feel free to check my previous idea, where I predicted a dump from 60k to 30k:
I expect Bitcoin to find absolute bottom here and I will explain why.
1) We've been dumping straight line from 60k for 13 days in a row with zero pullbacks.
2) Deleveraging liquidation event has already happened wiping out almost 800 million in one day at Binance.
3) Bitcoin dumped 30% in a day which is extremely rare. After it it dumped 15% and 14% again in a day, which is too much, because usually each 10% move at Bitcoin is being paid by moving in another direction for a week.
3) Altcoins dumped almost 50% in a day, btc dominance bounced 16% which is veeery big, usually after such a big and sudden move after no liquidity to dump the market and fuel left, recovery starts.
There's a possibility of 30k breakdown with a huuge stop hunt and big liquidations but this event will be priced in because we've been dumping straight line from 60k for 13 days in a row, that's why it should recover extremely fast creating a huge scam wick. This will be the last nail in the coffin.
Don't use leverage in such a volatile market cause it moves 5% in a minute now, manage your risk!
Feel free to check my previous idea, where I predicted a dump from 60k to 30k:
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