🔴🔴 Important update about why and what happened 🔴🔴
what happened yesterday was a liquidation event. when we broke ATH alot of hidden sellorders triggered. this resulted in bots and sellorders overstimulating the market into a wild flashcrash. btc doing a 10-15% dip is just noise, its dust, its not important. landing a short here, is just pure luck and nothing else. nobody knows if the bots will trigger a sell event or a buy event untill the bots reveal their way. this 10k usd flashcrash was a nice correction, and we almost closed a engulfing bearish candle. that did'nt happen.
where did we stop? I've shared this chart 2 times, this is the third. this is long term multi-year trend fibb levels. what level did we pump from? the exact level we rested 3 times over the last year. a perfect touch, and a previous heavy resistance cluster now turned into a support cluster. its easy to see, we touched the level and we pumped. we pumped hard. 12 hours later, it looks like nothing happened, except billions in weak hands got liquidated, funding got reset and fear/greed have corrected. we are now ready to continue climbing, weak hands have panic sold and strong hands have bought more at a flash sale. this is just normal. these dips will happen again, and fear will happen again. its all just noise and distractions to liquidate weak hands. will we see btc under 50k this year? it can happen. but if btc drops 30% im still not selling. the halvening have'nt happened yet. this is a buy the dip cycle, not short the local tops. this is also why I'm trying to tell people not to use leverage, you will get liquidated in these events. holding longs from 65-69k is stupid. thats it, stupid.
diamond hands people, diamond hands.