Bitcoin Daily | The Oscillators & $500M Liquidations
Bitcoin's indicators are now officially in bearish territory. When I gave you these indicators yesterday, they were trending down but still within the bullish zone, everything is changing fast and for the worst.
Let me give you a new, clean and fresh view of the indicators, you might find this information timely and useful. This is unbiased information that shows the current state of the market rather than mere guesses, predictions or assumptions.
➖ Bitcoin's daily RSI
Bitcoin's RSI shows a clear downtrend and is now trading below 50, with a reading of 46. This is considered to be weak or bearish.
➖ Bitcion's daily MACD
Bitcoin's MACD is more interesting than the RSI, because it gives us more information.
Bitcoin's daily MACD produced a bearish cross, you can see this by noticing the histogram turning red (or the move below the signal line).
We have the triple-top pattern and a very strong downward bias. See how the MACD is still above zero but pointing straight down, this signals that prices are going down and there is plenty of room for they to move lower.
If we had this signal but at a major low, like in August 2024, it wouldn't be that bad, but seeing it happen at this juncture should be discouraging for any bull. Because the probabilities of lower prices are really high.
➖ Liquidations
More than $500 Million dollars were liquidated yesterday by the exchanges. People were betting LONG at the wrong time with too much leverage. When Bitcoin started to move down, the exchanges took the collateral for hundreds of thousands of people. They were certain that Bitcoin's price was going to rise and they used borrowed money to bet on this certainty. The truth is that the market moved the other way. Everybody with 9X or more leverage lost everything in this move. We are talking about almost half a billion dollar. Some $150 Million on Bitcoin alone. The rest was taken throughout the market.
Unless you have a very high knowledge of how the market works and many years of experience, never use more than 5X lev. The recommended level of leverage for a beginner is 2-3X. Beginners should never use leverage. Only use this tool after you have been trading spot successfully for 2-3 years.
➖ More liquidations
Of course, this is not enough. We are about to see another wave of liquidations and this time it can be twice as much.
I realized that it doesn't matter what we do or say here, people are going to gamble everything away anyway. But if you are reading this, please, stay safe.
This is not financial advice.
Thank you for reading.
Namaste.
Let me give you a new, clean and fresh view of the indicators, you might find this information timely and useful. This is unbiased information that shows the current state of the market rather than mere guesses, predictions or assumptions.
➖ Bitcoin's daily RSI
Bitcoin's RSI shows a clear downtrend and is now trading below 50, with a reading of 46. This is considered to be weak or bearish.
➖ Bitcion's daily MACD
Bitcoin's MACD is more interesting than the RSI, because it gives us more information.
Bitcoin's daily MACD produced a bearish cross, you can see this by noticing the histogram turning red (or the move below the signal line).
We have the triple-top pattern and a very strong downward bias. See how the MACD is still above zero but pointing straight down, this signals that prices are going down and there is plenty of room for they to move lower.
If we had this signal but at a major low, like in August 2024, it wouldn't be that bad, but seeing it happen at this juncture should be discouraging for any bull. Because the probabilities of lower prices are really high.
➖ Liquidations
More than $500 Million dollars were liquidated yesterday by the exchanges. People were betting LONG at the wrong time with too much leverage. When Bitcoin started to move down, the exchanges took the collateral for hundreds of thousands of people. They were certain that Bitcoin's price was going to rise and they used borrowed money to bet on this certainty. The truth is that the market moved the other way. Everybody with 9X or more leverage lost everything in this move. We are talking about almost half a billion dollar. Some $150 Million on Bitcoin alone. The rest was taken throughout the market.
Unless you have a very high knowledge of how the market works and many years of experience, never use more than 5X lev. The recommended level of leverage for a beginner is 2-3X. Beginners should never use leverage. Only use this tool after you have been trading spot successfully for 2-3 years.
➖ More liquidations
Of course, this is not enough. We are about to see another wave of liquidations and this time it can be twice as much.
I realized that it doesn't matter what we do or say here, people are going to gamble everything away anyway. But if you are reading this, please, stay safe.
This is not financial advice.
Thank you for reading.
Namaste.
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followalan.com
🔥 6-In-1 ULTIMATE Package Offer Now Live! (The Best In The Market)
lamatrades.com (Since 2017)
🚨 The Best Trade-Numbers In The Universe
alansantanatrades.com
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