Quick BTC update 23.04.2021
Now that almost all leveraged longs have been liquidated or stopped out, BTC is clear to moon again soon.
I got stopped out two times during this gigantic corrective pattern, because it really was not obvious... But it does not matter, because I will make all the money back on the way up, tenfold... A doubling is incoming now -> 50k to 100k until end of July!
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Feel free to use and share my charts, but please mention me, @ew-and-patterns as the author. Otherwise it is considered plagiarism and I will flag you and advise my friends to do the same.
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Have a nice day :-)
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Updates will only be posted on HIVE !!!
Now that chart is more like it!!
Little questions. Do you have any metrics on what % of the leveraged kings were liquidated ?
No, but we just had a more than 20% drop 64900 -> 47500.
Everyone using more than 5x leverage near the highs is now liquidated (if they did not close the position early enough).
The daytraders usually use something like 5x-50x leverage.
And the liquidation already starts when you are using 85-90% of your avbailable margin (depending on the platform you trade).
So I don't need any metric to tell you that alot of daytraders got rekt hard. Even harder in altcoins... you just need simple math and a good understanding of how leveraged trading works.