"He sold ? Pump it "
Updated
The price hovering between 60k and 70k has led to significant financial distress for many traders.
Here is a fact :
From June 1st to June 28th, long positions were liquidated, reaching a total of :
Many traders thought Bitcoin would go up and placed long positions, hoping for big gains. Instead, they faced heavy losses. For example, on June 2nd, total BTC long positions liquidation were $3,000,000, but by June 14th, they had jumped to $50,000,000. By the end of the month, the losses added up, hurting both their confidence and wallets.
Interestingly, today’s fear index is at its lowest level [30], encouraging investors to position themselves in the market. This new wave of optimism might bring fresh capital, but the lessons from June’s turmoil remain crucial: trading futures within a narrow range can be financially hazardous, and understanding market conditions is essential to avoid significant losses.
Here is a fact :
From June 1st to June 28th, long positions were liquidated, reaching a total of :
- $2,887,000,000
Many traders thought Bitcoin would go up and placed long positions, hoping for big gains. Instead, they faced heavy losses. For example, on June 2nd, total BTC long positions liquidation were $3,000,000, but by June 14th, they had jumped to $50,000,000. By the end of the month, the losses added up, hurting both their confidence and wallets.
Interestingly, today’s fear index is at its lowest level [30], encouraging investors to position themselves in the market. This new wave of optimism might bring fresh capital, but the lessons from June’s turmoil remain crucial: trading futures within a narrow range can be financially hazardous, and understanding market conditions is essential to avoid significant losses.
Note
The head and shoulders pattern I anticipated didn't form. Bitcoin is now testing the bottom of the accumulation channel on the monthly chart. The fear index is at 29, which is intriguing for swing traders.
Despite the harsh liquidation of long positions in June, as I mentioned earlier, future traders kept taking long positions aiming for 72k. They too faced liquidations when BTC fell to 54k.
My analysis: BTC will now aim for 64k. If it breaks this level with high volume, the next target will be 72k.
Note
Classical Bullish pattern in technical analysis world :) 
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