How the BITCOIN CRASH happened? 30% down! Is Elon Musk really that powerful?

As a technical analysist – Here’s how I saw the Bitcoin crash. I had the move ready before hand but you should know fundamental news only pushes the market towards it’s already desired direction. Let’s talk about it.

So what exactly happened? We could see Bitcoin rallying up like it would got to 100k within the next few months already wasn’t it? But that’s not how the market works. The market is the market and you must respect it.

Psychological numbers are important when trading without any previous data. In this case, we had $60,000 and $65,000. See the reaction just after it hits the 65k? Exactly.
That’s a Liquidity capture, meaning?

Meaning – For every retail trader that predicted the crash and started selling were stopped out within that area. You see the “X”, I put in my chart? That was the money.
I cannot feed you all the details as it’s hard within a thread but this is completely technical.

The market takes out all the retail traders and pushes the market down heading towards the liquidities that it has left below. Liquidity = More Money. Marked in the chart with “$”.

Meanwhile, Elon musk tweeted about Spacex discontinuing bitcoin, see the push down? That’s how fundamentals direct the market towards its direction.
The market already knew it wanted to have a desired sell, Fundamentals only help it thoroughly.

In this scenario, from my desired entry (where the orders of the market makers are – the red area). Bitcoin has crashed 30%.

This is more likely to be just a pullback to get a higher push but we’ll talk about that soon when we have more data.

Thank you, hope you learned something.

Disclaimer – I am no Financial advisor, this is just an insight. Trade at your own risk. Past results do not guarantee future results.

41 thoughts on “How the BITCOIN CRASH happened? 30% down! Is Elon Musk really that powerful?”

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