Strange times for Bitcoin
So after dropping Bitcoin as a precaution they drove price up and liquated a massive ammount of shorts while inspiring people to turn bullish. In a highly aggressive fashion they then completely dropped price as everyone was long and took an equal ammount of long positions. In the most unusual fashion they have now driven price up 19% overnight and liquidated the new short positions. These are simply amazing moves and my take on it is that the initial drop was almost a gimmie. Practically everyone was most likely shorting Bitcoin and it may be one of the few freebies we will ever see. The subsequent moves however had a price. The shorts then longs then shorts liquidated in the last 72 hours or so is seemingly a record and now were sitting at a 19% gain over night and no one has a clue what it's going to do next. With that needed intro out of the way I will say these next moves will need to be watched. Global tensions are still high and I don't think any normal TA can capture these moments. The algorithm is most likely reading the higher number of leveraged positions aiming to take advantage of the volatility and violently moving in the opposite direction once a certain number of longs or shorts are locked in. To keep this short I will say these next few moves need to be witnessed. There are now a large number of longs and most likely they will look to come for them. I will be watching the next 24 hours to see what moves are made and update accordingly.
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