Bitcoin Bears Liquidated: New Lower High Being Established
2024-10-14

Here is Bitcoin's short-term chart, 4H timeframe. We can see a new lower high being established now just below the 27-September peak price. This is marked on the chart with a blue line.

Bears are being liquidated in the tune of 100 million dollars. In order to be in this liquidation pack, you must be playing with a very high leverage, in the range of 12-15X. All these over-leveraged positions are being removed once more as the market prepares for its final leg-down of the corrective phase.

Lower highs lead to lower lows. You can find the targets (support levels) in a previous trade-idea by visiting my profile; remember to hit follow.

The main target for the end of the bearish move we are looking at is around $35,720, but it can be lower or higher. Safe and easy targets are around 53,000 and the 38,000 - 42,000 price range.

It will be a wild ride. I hope that you are prepared.

Thank you for reading.
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Namaste.