See this?
This is why we haven’t cracked 42k yet 👀
Closing longs = sell pressure.
These are market makers closing out positions into a retail FOMO buy wall. Closing of longs precedes a dump in price. Yes price can still go up in order to keep the buy wall alive.
There’s a lot more aswell but I’ll write too many words lol.
I’m in stablecoins right now.
Till BTC can decisively break 42k, there could still be a chance for a bigger correction.
In the 2017/18 bullrun, we saw a drop of 85% from the ATH’s going into the bear market and then waiting another 2-3 years with those funds basically locked up as a result.
Right now, having stablecoins gives me flexibility. If the bull market continues, I can buy in and benefit, if it drops massively or a big dip then I can then buy cheap.
However, some are saying 28-30k were the bottom, so we’ll see.
