(March 19 Afternoon) BTC Market Overview | Washout Not Complete, Rally Then Drop, Hold Short Positions at High Levels

The 69,000–68,000 range below is where the heaviest concentration of chips from this rally is positioned. Yesterday's sharp decline directly wiped out 8 days of bullish gains; $390 million in 24-hour long liquidations occurred. Although milder than previous periods, deleveraging and washout are still incomplete.

Current chart shows typical bull trap and then kill structure: US stocks tonight will likely rally first to lure longs, then weaken and drop again. Continue holding short positions at high levels, betting on a second bottom test; don't blindly buy dips, don't chase longs against the trend, patiently wait for the washout to complete. Not sure when you can enter? Try pinning Bamboo Leaf 🤔
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