๐จ #Bitcoin Flash Crash Analysis: What Happened? ๐จ
๐น Market Overview:
Bitcoin ($BTC) hit a new ATH of $108,300 before plunging to $106,200 within 20 minutes, losing $2,500 in a flash move. โก
Key Observations:
1๏ธโฃ Sudden Drop: Heavy selling pressure and liquidations likely caused this sharp decline.
2๏ธโฃ Market Panic: Stop-loss triggers and fear selling accelerated the fall.
3๏ธโฃ Whale Activity: A spike in trading volume suggests big players drove the sell-off. ๐
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Technical Levels:
๐ธ Resistance: $108,300 โ A breakout here is critical for bullish momentum.
๐น Immediate Support: $106,200 โ BTC is stabilizing here for now.
๐ป Critical Support: $105,500 or even $103,800 if selling pressure persists.
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Why Did It Happen?
๐ ๏ธ High Leverage: Liquidations of overleveraged positions triggered a cascading effect.
๐ Market Exhaustion: Profit-taking after ATH added to the momentum.
๐ Whale Moves: Large sell orders disrupted the order book, causing instability.
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Short-Term Targets:
๐ Bearish: Failing to hold $106,200 could lead to a drop toward $105,500 or $103,800.
๐ Bullish: Reclaiming $107,500 and breaking $108,300 is essential for a recovery.
Whatโs your take? ๐ค Drop your predictions below! ๐