"There’s no more dangerous sentiment in markets than I’m going to sell to buy back lower"
It sounds disciplined, and it’s how a lot of people talked themselves out of a position over the past few months. The problem is what happens when the lower price never arrives. The bears here were waiting for something structural, an FTX scale event to break price, and instead the move went against them and they got liquidated. Which leaves an awkward question for anyone who sold with the intention of buying back cheaper. Do you step in at $75,000, $80,000, $85,000, or do you hold out for the $45,000 or $50,000 bid that may never fill?
#Bitcoin #Crypto #Trading #Markets #Liquidations
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