BTC/USD - Flash crashed PUNISHED leverage longs hard! Bullish!🚀
BTC flashed crashed almost 20% while most altcoins including ETH crashed almost 60% on some exchanges, check Kraken.
This took place so leveraged longs were flushed... many got liquidated. Not nice, but this is a reminder... use leverage sparingly and never go over 5x as today, anyone over 5x got liquidated... This flash crash is only one of many as we go to the top. So do NOT be greedy!
Use spot and ride the waves as we go higher. Safest!
So where are we now? After flushing greedy traders, we're clear to go higher. Support held and as long as it hold I remain very bullish. This crash was good for long term gains!
We are still far away from the top and these kind of price actions/flash crashes are to be expected, so this was an expensive lesson for many.
The indicators are curving and if momentum is maintained, we're good for higher levels. Watch closely as price may surprise us still. Either way, we have strong support at 50k. So I'd be surprised for that to fall.
Like and follow if you liked this idea! Also join my crypto community to stay in touch and watch my TA videos on YouTube!
This took place so leveraged longs were flushed... many got liquidated. Not nice, but this is a reminder... use leverage sparingly and never go over 5x as today, anyone over 5x got liquidated... This flash crash is only one of many as we go to the top. So do NOT be greedy!
Use spot and ride the waves as we go higher. Safest!
So where are we now? After flushing greedy traders, we're clear to go higher. Support held and as long as it hold I remain very bullish. This crash was good for long term gains!
We are still far away from the top and these kind of price actions/flash crashes are to be expected, so this was an expensive lesson for many.
The indicators are curving and if momentum is maintained, we're good for higher levels. Watch closely as price may surprise us still. Either way, we have strong support at 50k. So I'd be surprised for that to fall.
Like and follow if you liked this idea! Also join my crypto community to stay in touch and watch my TA videos on YouTube!
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