#Crypto

$200,000,000 in #Bitcoin longs just got wrecked here.

There is still a lot of liquidity laying above us.
@TheTradingWizardFREE

#Crypto

• 📈 Ether & Solana Reach 19-Month Highs: Both cryptocurrencies surged to new highs for 2023, outperforming Bitcoin.
• 🛑 Bitcoin Rally Pauses: Bitcoin’s price dipped to $43,000, with concerns over a potential ‘bull trap’.
• 🐂 Bull Trap Fears: Traders are wary that the current market rally could be short-lived, potentially leading to a significant downtrend.
• 💬 Arthur Hayes’ Speculation: BitMex founder Arthur Hayes speculated on social media about Solana (SOL) potentially reaching near $100.
• 📊 Crypto Market Movements:
• Bitcoin (BTC) experienced a slight decline.
• Ether (ETH) increased by 5%, reaching $2,372.
• Solana (SOL) jumped over 8% to $69.
• 🚀 Altcoin Performance: Ether classic (ETC) and Lido’s governance token (LDO) also saw significant gains.
• ⚙️ Scaling Networks’ Tokens Rise: Ethereum scaling networks Optimism and Arbitrum saw their tokens rise by 22% and 9%, respectively.
• 📉 Bitcoin’s ‘Bull Trap’ Concerns: There’s growing skepticism among traders, with fears that the market might be in a bull trap.
• 💡 Santiment’s Analysis: Crypto analytics firm Santiment suggests increasing disbelief could push Bitcoin towards $50,000.
@TheTradingWizardFREE

#Crypto

RVN broke out the descending trendline, and it is currently testing the resistance area

I believe the price will consolidate a bit, and perhaps return to the ascending trendline before continuing its upward movement 📈
@TheTradingWizardFREE

#Crypto

Bitcoin has seen a tremendous run from $25,000 to $45,000.

Perhaps there's some more upwards momentum, but there's a high chance Altcoins will take over momentum coming few months.

The top of bitcoin dominance is close, Altseason is next 🧙‍♂️

Several altcoins are also showing that they have bottomed out in BTC pairs.
@TheTradingWizardFREE

#Crypto

Bitcoin having a small correction.

If Bitcoin hits $42,800 more than $400,000,000 in Long Positions will be wiped...
@TheTradingWizardFREE

#Crypto

Liquidations 🩸
⭕️ In the past 24 hours , 112 458 traders were liquidated , the total liquidations comes in at $384.66 million
⭕️ The largest single liquidation order happened on OKX - BTC-USDT-SWAP value $8.23M

⚠️ Never invest more than what you can afford to lose.
⚠️ Don't try to make quick money.
⚠️ High Leverage does not give you more money

That’s an healthy dip 🧙‍♂️
@TheTradingWizardFREE

#Crypto

Bitcoin dominance has been protected on the 3D time-frame by the EMA 50 since January, so for me, a candle close below the EMA 50 could mean the start of the Altseason (Altcoin Season) 📈

Remember that we are currently experiencing a correction in the cryptocurrency markets, which is healthy in the long term before the real bull run begins 🐂
@TheTradingWizardFREE

#Crypto

🐳 The latest Bitcoin dump has led to a sharp increase in the population of whales with balances of 1000 BTC and above.

While panickers are selling, big guys are accumulating
@TheTradingWizardFREE

#Crypto

Bitcoin after a very significant rise, had a dip that in my opinion is healthy for the long term (nothing alarming for now)

The red line (SMMA) has held the price perfectly on the 4H timeframe since November, which means that for now we continue with a bullish structure

Therefore, only if a breakout below it happens, I will expect a more significant correction, initially towards the 38K support, but be aware that 35K is a big liquidity level

But for now we are above the support area 🐂
@TheTradingWizardFREE

#Crypto

Bitcoin broke the SMMA which has been holding the price on the 4H timeframe since November, indicating a possibility of a larger correction, so be careful with Longs at this time

We will have to pay attention to how the price reacts to the 40k support area, which was the previous low. If it breaks, the next support will be the 38k

Historically, the month of December is not the best for the markets, so be careful, the market may only go up again in 2024 ‼️
@TheTradingWizardFREE