Bitcoin correction from $51,800 to $43,000

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Bitcoin correction from $51,800 to $43,000 = I've exited all altcoins. Awaiting a drop similar to Litecoin... A large number of stop losses have accumulated across all altcoins at the bottom, just like for Bitcoin at $42,000 - $43,000.

BTC #bitcoin #btc

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ملاحظة

1. Examining the BTC Liquidation Heatmap over the last three months reveals that all short traders have been maximally liquidated, while there's a huge amount of long traders' stop losses below, with the first point at $42,500 and the second at approximately $38,000. That's where I would expect a correction and subsequently look for attractive entry points for altcoins.

2. This daily chart image shows liquidations of both short and long traders. As observed today, a massive liquidation stick, and historical patterns suggest this leads to a price reversal for a correction or a sideways movement for collecting long traders' stop losses, which can also aid in decision-making.

In conclusion: It's important for me to wait for the price to reach $42,500 or $38,000 and then look for entry points for altcoins (without margin, spot only).

Disclaimer: This is not financial advice; please conduct your own research. Avoid margin trading & futures. Stick to spot trading.

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ملاحظة

Now let's look at how Litecoin has fallen on the daily chart and where it stands on the Liquidation Heatmap, and try to compare it with Bitcoin and Ethereum. I think a correction is more likely to occur because, for any altcoin you open, there are a lot of stop losses accumulated below.

Litecoin:


LTC Liquidation Heatmap:


ETH Liquidation Heatmap:


BTC Liquidation Heatmap:

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ملاحظة

As soon as we fall into the liquidity zone (the sooner the better, ideally within one day), I will only be buying altcoins; Bitcoin no longer interests me.

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ملاحظة

Let's see what kind of correction we'll have today...

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ملاحظة

It's a crude comparison, of course, between Bitcoin and Litecoin, but for now, it's a working scenario. As soon as we collect the stop losses of long traders, that's when we'll start looking for entry points to buy altcoins.

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ملاحظة

Initially, I got carried away and bought Toncoin, made a quick review, and as soon as the price of Bitcoin plummeted, I urgently closed the position and abandoned the idea. Almost got caught.

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ملاحظة

Everything is going according to plan so far. We wait.


Binance BTC/USDT Liquidation Heatmap

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ملاحظة

Today is Friday. Events happening today, Friday, February 16:

China - No trading
USA - Federal Reserve Balance
USA - PPI Industrial Inflation (Jan)
USA - Michigan Consumer Sentiment (Feb)

Bitcoin:


Ethereum:


Litecoin:


Also, over the last month, the Liquidation Heatmap for Bitcoin, Ethereum, and Litecoin indicates where a correction is expected. Bitcoin - $43,570, Ethereum - $2,400, Litecoin - $64-$65.

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ملاحظة

⚠️ Today is the Expiration Day for #Bitcoin and #Ethereum Options!

$1.1 billion in BTC options and $566 million in ETH options are expiring on February 16th.

▫️ The main area of interest for BTC = $46,000

▫️ The main area of interest for ETH = $2,400.

Hmm, interesting, it +- coincides with the Liquidation Heatmap zones.

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ملاحظة

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ملاحظة

Bitcoin fell to $50,800 and triggered the nearest stop losses of long traders.

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تم إغلاق الصفقة يدويًا

I advise against shorting Bitcoin. There's a possibility that the price might rebound to $53,000, and beyond that, it's uncertain whether it will climb higher to the $55,000 - $60,000 range. The anticipated drop didn't occur, raising some suspicions. Currently, I find it worthwhile to take a closer look at the cryptocurrency Toncoin from Telegram, as it may see some action with the upcoming Notcoin listing (without leverage).

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