BTCUSDT Dumps by 3.7k in 45 Minutes
It seems like there are some exogenous factors at play at the moment, or at least there were during this short period of huge volatility. I couldn't imagine the number of liquidations that happened during those 45 minutes but if someone happens to know that data please leave it in the comments. Due to this recent high volatility, I'm letting the market settle down before entering again. There are no clear tradable patterns I can see right now, and really no technical analysis-based grounds to enter any type of position here. We could look to exogenous or social factors but that applies more to spot, and my position on spot for bitcoin is very clear - LONG. I am very bullish on bitcoin long term - I see it hitting 100k by Q2 2022, and 1m eventually. As the traditional monetary system collapses under the weight of the debt it created, digital currencies - lead by bitcoin - will take over.
However, I see nothing in the next 24 in terms of derivatives trade setups. It's better to wait for the right time to enter than just entering for the sake of making a trade. There are plenty of great opportunities that come along each week, there is no need to force a trade in that you should have never made. I will update with a new post when I can see a tradable structure or setup forming.
However, I see nothing in the next 24 in terms of derivatives trade setups. It's better to wait for the right time to enter than just entering for the sake of making a trade. There are plenty of great opportunities that come along each week, there is no need to force a trade in that you should have never made. I will update with a new post when I can see a tradable structure or setup forming.
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