a "dead-cat" bounce is a temporary recovery in share price after a substantial fall, caused by speculators averaging down on their losing positions.
but a wise man once said, "the market can stay irrational longer than they can stay solvent".
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there's a lot of leveraged longs in this market right now - for every 1 short there are 15 longs.
eventually, high leveraged longs (who weren't willing to take a loss along the way) will run out of money \ won't be able to average down on their losing positions anymore - this will cause an exaggerated wave of liquidations in the crypto space.
i foresee this capitulatory event approaching in the near horizon.
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primary wave 4 target = $22,000
but a wise man once said, "the market can stay irrational longer than they can stay solvent".
----
there's a lot of leveraged longs in this market right now - for every 1 short there are 15 longs.
eventually, high leveraged longs (who weren't willing to take a loss along the way) will run out of money \ won't be able to average down on their losing positions anymore - this will cause an exaggerated wave of liquidations in the crypto space.
i foresee this capitulatory event approaching in the near horizon.
----
primary wave 4 target = $22,000
Note
closed half my short here just in case we revisit the highs from earlier today.will jump back in up there (if it was to happen)
Note
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i only share a tiny fragment of my ideas on this platform. to view my daily work, join the lunar syndicate 9 👇
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.