Today will be a bloodbath.
It’s honestly scary what could happen.
The amount of leverage and open interest around the current $BTC price is very worrying(long and short) add to that it is Friday and high impact news will dictate the next move and you get a perfect storm.
I would not be surprised to see a sudden price move of 3k+ on $BTC within minutes leading up to, or shortly after the jobs data.(Long or short).
I am certain by the end of today we will have Billions in liquidations on BTC alone, across Crypto it could be really bad.
Unless you are trading spot or very low leverage, take today off.
If you are a degenerate and insist on trading conditions like this then use 10% of what you intend to and save the rest for another day.
Ye it’s boring to read this shit, I get it, but the market conditions are primed to absolutely destroy retail today.
I am not saying which direction I think the price will go, I know that the price could whipsaw and wipe out leveraged liquidity in minutes before entering a longer trend.
It’s near impossible to predict and trade these conditions with high margin levels so don’t try.
Live to fight another day.
✌️
