I pointed out a few reasons why this moves down is much sharper.
- Billionaires shilling Crypto to us (Elon , Trump ,Saylor)
-Traders excitement towards new all time highs because billionaires are with them.
- Expectations of rate cuts
-High leverage longs
- Germany selling
-Mtgox repayments
- Iran attack
- Japan market crashing.
- The fear of global recession
A mixture of greed first above $65k where people were high leverage long or all in spot and then the fear of war and recession.
This ends up in a sharp sell off with people selling and getting liquidated.
When situations are this bad charts are least likely to work.
The least you can do is either wait for the situation to settle or buy when you see market capitulation. (A big move down)
