Bitcoin dropped to as low as $11,159 on spot exchanges like Coinbase Wednesday. The fall was exacerbated by long-oriented derivatives traders on exchanges like BitMEX. That platform experienced $9 million in sell liquidations in one hour as prices fell, the equivalent of a margin call in the cryptocurrency world.
Alex Mascioli, head of institutional services at crypto brokerage Bequant, says long traders were convinced bitcoin’s price would surpass 2020 highs, but instead were wiped out. “Bitcoin still needs to break above its previous high at $12,400 to have enough serious momentum to have a chance of retesting previous highs,” he said.
There is a chance that next time bitcoin hits that price level it could head into higher territory, approaching 2020 highs around $12,475, Mascioli added. “For now, $12,400 is the most important resistance level the bulls must take out - the technicals appear as if the bulls may retest this level in the next week.”
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-TOP author on TradingView
-15+ years experience in markets
-Professional chart break downs
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ARDX D1::BEST level to BUY 100% gains (SWING)(STOCKS)
IMPORTANT NOTE: speculative setup. do your own
due dill. use STOP LOSS. don't overleverage.
Tagged as SHORT because I expect more short-term
losses before reversal (BULLS).
🔸 Summary and potential trade setup
::: ARDX daily/candle chart chart overview
::: strong bullish chart accumulation
::: buying near range lows makes sense now
::: 100% gains BUY/HOLD setup
::: best reload BULLS is 3.80-4.40 USD
::: TP1 Bulls is 50% gains
::: TP2 Bulls is 100%+ gains
::: targets based on measured move
::: just buy/hold it and get paid
::: 100%+ gains on BUY SIDE medium-term
::: good luck traders
🔸 Supply/Demand Zones
::: N/A
::: N/A
🔸 Other noteworthy technicals/fundies
::: TD9 /Combo update: N/A
::: Sentiment mid-term: BULLS/reversal/accumulation
::: Sentiment outlook short-term: BEARS
Why get subbed to to me on Tradingview?
-TOP author on TradingView
-15+ years experience in markets
-Professional chart break downs
-Supply/Demand Zones
-TD9 counts / combo review
-Key S/R levels
-No junk on my charts
-Frequent updates
-Covering FX/crypto/US stocks
-24/7 uptime so constant updates
KRTX 4days::SWING Best level to BUY // 200%+ trade (STOCKS)
IMPORTANT NOTE: speculative setup. do your own
due dill. use STOP LOSS. don't overleverage.
🔸 Summary and potential trade setup
::: KRTX 4days/candle chart chart overview
::: strong bullish chart
::: previously pumped on strong catalyst
::: best reload BULLS near range lows
::: TP1 Bulls is 150% gains
::: TP2 Bulls is 200%+ gains
::: get ready to BUY low and you
::: will get rewarded later
::: best reload later October 2020
::: best reload zone 54/56 USD
::: measured move TP is 150% gains
::: TP BULLS is 20 USD and 25 USD
::: expecting strong gains next few months
::: next SWING is going to be 200%+ gains
::: well defined strong based more gains
::: STRATEGY: BUY/HOLD at/near 54/56 USD
::: BUY/HOLD swing trade setup / patient traders
::: 200%+ gains on BUY SIDE medium-term
::: good luck traders
🔸 Supply/Demand Zones
::: N/A
::: N/A
🔸 Other noteworthy technicals/fundies
::: TD9 /Combo update: N/A
::: Sentiment mid-term: BULLS/reversal/mirror S/R level
::: Sentiment outlook short-term: RANGE/ACCUMULATION