Bitcoin’s recent price action suggests a "trap" designed to liquidate over-leveraged traders expecting a breakout to new highs. While many traders are gearing up for Bitcoin to surge, a true breakout may not be imminent. Here’s what you need to know:
Key Insights:
Liquidation Risk: A significant liquidation event is expected around November 5, potentially impacting traders with high-leverage positions.
Gap to Fill: A gap remains in BTC’s price action, which may be filled within hours or days, adding to short-term volatility.
Suggested Strategy:
Avoid placing trades prematurely; instead, set alerts and monitor closely.
Be ready for sudden price "fuses" or quick dips below expected levels.
Limit leverage on trades (maximum 15x) and maintain patience as BTC could see a sharp move soon.
Stay vigilant and ready to act as Bitcoin’s next move unfolds.
