Who Crashed Bitcoin? (You might be surprised by the answer...). Video by Jacob Canfield.
There is a lot to unpack on today's video.
1:30 - First, Bitcoin broke the strong $8,000 level that we were looking at as a potential place to long.
6:10 We have now retested the 61.8% fibonacci level, which is $7,400 from the swing low of $3,200 to $14,000.
8:44 Valuable lessons I learned from longing the $8,000 level.
Unknown Miner outflows of USD saw a massive spike today (which could possibly account for the liquidation levels.)
10:50 We also saw significant long liquidations as price broke down to the $7,400 zone.
13:33 What is Contango and why is it important for Bitcoin? In futures, commercial operations use futures markets to lock in profit and buy 'contracts' to exchange at a certain value in the future to maintain their profitability.
15:49 I also covered a very unique tool that measures miner capitulation and gives warning signs and ideal buy zones.
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