The BTC Longs got a massive run up when Luna crashed (BTC price at 30k) and again when Celsius crashed (BTC price 25k) and has flat lines ever since
This would mean logically that all those millions of dollars worth of longs are STILL under water. The BTC price topped out at their break even point from when they entered at the time of Celsius fall.
Is this going to be a MASSIVE Longs squeeze?
Assume it was the same person (of country government) if you average out the difference between the 2 massive run ups it would be around 23k
A 2x leverage would get liquidated at 11.5k which happens to still have a CME gap open as well as the lowest one down at 9.8k
So, I assume the price on BTC will wick down to 7.8k and close candles around 10k
This would mean logically that all those millions of dollars worth of longs are STILL under water. The BTC price topped out at their break even point from when they entered at the time of Celsius fall.
Is this going to be a MASSIVE Longs squeeze?
Assume it was the same person (of country government) if you average out the difference between the 2 massive run ups it would be around 23k
A 2x leverage would get liquidated at 11.5k which happens to still have a CME gap open as well as the lowest one down at 9.8k
So, I assume the price on BTC will wick down to 7.8k and close candles around 10k
KRJcrypto