$ZEC Setup, Two scenarios here It will either go down after testing this important resistance level OR It will give closing above this resistance turning it into a support level.
I persume short scenario seems most likely to occur. I will wait for displacement and go short.
Why Did Bitcoin Drop to $90K After Hitting an ATH of $104K?
The crypto market is known for its volatility, but Bitcoin’s recent drop from its all-time high (ATH) of $104,000 to $90,000 has left many wondering: What happened?
Let’s break it down:
1. Profit-Taking at ATH
When Bitcoin broke through $100K, a psychological milestone, many investors who had been holding since lower levels decided it was time to take profits. This wave of selling created significant downward pressure.
2. Overleveraged Positions
As Bitcoin surged past $100K, the derivatives market saw a spike in leveraged long positions. When the price began to dip, these positions were liquidated, exacerbating the sell-off. This cascade effect is common in highly-leveraged markets like crypto.
3. Technical Resistance and Market Psychology
$100K was not only a psychological milestone but also a technical resistance level. After Bitcoin surpassed $104K, it quickly met strong selling pressure, which caused the price to reverse. This behavior is typical as traders anticipate corrections after major breakouts.
5. Whale Activity
On-chain data revealed increased activity from Bitcoin whales. Large holders moved significant amounts of BTC to exchanges, likely preparing to sell. This signaled the market to brace for a correction.
What’s Next?
While the drop to $90K might seem dramatic, it’s essential to put things into perspective. Bitcoin remains in a bullish macro trend, and corrections are part of its price discovery process. Historically, Bitcoin has shown resilience after similar pullbacks.
For long-term investors, this could represent an opportunity to accumulate. As always, it’s crucial to do your own research (DYOR) and understand your risk tolerance before making any moves.
Polkadot $DOT has crashed -5% in just 5 minutes, wiping out $20 million in market cap.
$728k in DOT longs were quickly liquidated.
This follows reports that Polkadot has been exploited. The attacker allegedly minted over 1 billion $DOT and dumped it all in a single transaction for 108.2 ETH ($237,000).$RAVE
The more you short this coin the higher it will pump. Soo simple. Your shorts provide more fuel and it pumps even more and you get liquidated in the end..
$RAVE STOP Gambling!!. Dont gamble your hard earned money unless you know what you are doing.
Rave chart has no pattern.. no setup.. nothing it is moving out of thin air. If you long or short right now and make profit you are just lucky and it is just a gamble not trade.
I am not taking any new trade unless I see some pattern or setup because I am not a gambler.
Are you holding any position or getting ready to take one? $TRADOOR
$RAVE I told you not to shortpeople holding short positions on rave lost millions. I knew that short squeeze will happen, there you go. About 90% of positions were short and now about 45% people are long which means as soon as this toll gets up the red bath starts..
Keep your eyes open $TRADOOR Always Remember the golden words i have attached.
$RAVE is refusing to go down at all and it is not breaking the resistance level as well. I think this is happening due to the massive number of open shorts.
We are constantly getting short squeezed. Since most of the people are short there is massive liquidity on the upper side.
$RAVE Short this one as it should go down now.. enough pumping. I entered at market price as the liquidity sweep above monthly highs already happened. Entry: 0.09-1.01 SL: 1.186 I have entered the position. I dont see it going up anymore..
this is not financial advice, it what i did. Trade at your own risk…
$BULLA Short now. $BULLA is showing weakness and is about to fall at any moment. It has broken the critical short term support and i am ready for its free fall.
$M TP successful. Same prediction same result. Close your positions here. You guys will get tired of winning 😅. Enjoy the profits. Another coin just hopped on my radar. Waiting for confirmation. Will tell you as soon as I open a position.
Stay active and show support to keep me motivated.