Simply, $24k is the point at which it becomes significantly risky to short $BTC.
Why? Because as soon as $BTC's price drops below $24k, shorters can no longer maintain their liquidation points above the key resistance of $48k ($BTC's last swing high).
This has been the case for nearly every big crash in $BTC's history.
Here is the 1x short bounce from our all time high.
Bought @ $34.5k twice and laddered out by $46k twice.
Here's last summer's crash. Short pressure completely gone at $29k.
Here's the March 2020 crash.
Here's the 2019 Summer rally. Bottoms at the 1x short after a slow bleed down.
Here's the Nov/Dec 2018 crash.
And, of course, the initial 2018 bear market crash.
If the bears really get ballsy, they may be able to take $BTC down to $20k, using the beginning of this crash as their local high resistance point.
So... buy hard at $24k. Save a bit for $20k if you feel so inclined. Not financial advice.
These charts and the margin pressure level (MPL) tool used in them is part of the cryptostackers.pro dashboard, a dashboard I designed to make TA simple.
Fantom has the necessary flexibility & runway to rapidly iterate until it finds Product-Market Fit among the constantly shifting demands of the developing web3 space.
Fantom will morph into a network that solves a problem and attracts users.
Many people do not understand Quant Network or the $QNT token.
I'm going to simplify why I believe $QNT is an S-Tier cryptocurrency.
Quant Network is building a blockchain interoperability and access point SaaS solution for enterprises, institutions, and developers that will be deemed as “mission-critical” in the future.
Cont'd...
As enterprise blockchain adoption increases, Quant Network will experience fast growth which will be reflected in its token price.
Basically there was a virus so logically we decided to OD on Quaaludes (shut down the economy) paralyzing our entire body then we said oh no this isn't good so we straightened out by snorting tons of cocaine (stimmies!)...
and drank tons of vodka red bull bc it... just kinda turned into a party.
We started coming down and usually we're hungry after a crazy night out but this time we skipped Taco Bell bc we weren't hungry when we drove by (inflation is transitory)...
...but when we got home we decided we were actually hungry (inflation is not transitory) so we binge ate the entire fridge including the sus leftover sushi from 2 nights ago (fast rate hikes)...