(March 19 Afternoon) BTC Market Overview | Wash-out Not Complete, Rally Then Drop, Hold Short at High Levels
The 69000–68000 range below is where the most concentrated chips from this round of gains are positioned. Yesterday's sharp drop directly wiped out 8 days of long advances; 🤔3.90 billion in 24-hour long liquidations, which is more moderate than before, but deleveraging and wash-out are still incomplete.
Current market shows typical bull trap and kill structure: US stocks opening tonight will likely rally first to entice longs, then weaken and drop again. Continue holding short position
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