Longs and shorts are starting to get wise and stop trading with high leverage as the big sell-off peaks in the south are around 14.5K and in the north around 20.5K
If I was a market maker and I would like to lose the majority (which will be my liquidity to accumulate) by letting the minority win (the minmimum of shorts), then I would go completely south, or I would push the price a little more high to further fomo the longs and scare the shorts into closing their positions before the dump.
I'm not trying to be biased by one direction but I have a feeling the 2018 scenario is repeating itself so after crashing down the 6K to seek out the 3K, in our case it's 20K to 10K+ or-, maybe we won't go below 14K but if all futures traders start opening longs around 14K then we'll go to 12K and so on until the longs capitulate and go into depression.
The price is in a strong downtrend, we can have strong movements up and down to liquidate traders with 10X to 20X leverages (a rise or fall of +or- 5% to 10%), and already the big leverages beyond 25X have capitulated given the liquidations close to the price (between 1% to 5%) are almost non-existent.
If the S&P 500 breaks the 4000 level with volumes, and the Dollar index DXY continues to fall, I think BTC and alts will go higher, but if the S&P 500 gets rejected from the 4000 or breaks the 4000 but without volumes just to squeeze the shorts then the BTC will only wait for that to still squeeze the longs which tries to anticipate the reversal.
- S&P 500 Technical Analysis: https://www.publish0x.com/the-king-of-crypto/btc-daily-technical-analysis-the-battle-of-the-3-titans-who-xpzlgex
- DXY Technical Analysis: https://www.publish0x.com/the-king-of-crypto/btc-daily-technical-analysis-the-next-direction-up-or-down-p-xxzrqjx
Still more longs to liquidate on APT and SOL since yesterday: https://t.me/tradingwithbinance/550
My target on SOL at $12 and on APT at $3.5
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