Hello everyone. For the past two months, the price of the entire cryptocurrency market has been under pressure. Finally, we are seeing the first signs of a trend reversal. Yesterday, the price surpassed $40,000.
The short squeeze has begun. They are charging forward like bulldozers. Next, we will see how the liquidation chart unfolds. I think the picture will be interesting.
Personally, we are standing on the selling side right where the big players are. We are also constantly monitoring the potential change in the market dynamics because nothing lasts forever. If a change occurs, then we will need to adjust our orders accordingly. I remind you to conveniently monitor the order books using this service.
As for a pullback below $40,000, if the price at the beginning of the week doesn’t surpass the level of $24,350, then I consider a test of $40,000 with a significant number of shorts involved to be quite realistic. Otherwise, I don’t see much sense in such a move.
We have also noticed that as the price rises, the margin short position increases. For those who are not aware, people borrow from the exchange in the hopes that the price will go down. And as we already know, the primary goal of large capital is to take coins away from everyone else. Therefore, they are likely to prevent them from making a profit.