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$BTC โ๐๐๐ง๐๐ข๐๐ก ๐ก๐๐ซ๐ง ๐ ๐ข๐ฉ๐ - ๐ช๐๐๐ง ๐ง๐ข ๐๐ซ๐ฃ๐๐๐ง.
In one of my posts yesterday, I gave an update on Bitcoin and the general market, and I mentioned that the reason the price isnโt bouncing is that the sell-off is driven by spot selling, not liquidations and good buying opportunity typically arises when there are liquidations.
It is important to know that when the market slowly bleeds, it usually ends with a cascade of liquidations and we saw it yesterday. Bitcoin dropped significantly, falling almost 20% in a single day, going down to $60,000.
This move was marked by panic, by sell-offs, and by triggered liquidations. $2.17B longs were liquidated.
NOW WHAT IS NEXT?
Technically we are still in a clean downtrend but the good thing is we got what we were waiting for.
$69000 is 2021 All time high and important to reclaim imo.
If the price reclaim $67k-69k, once it does i think we will be in for a relief.
NFA - DYOR
#BuyTheDipOrWaitNow?