Sykodelicc

This looks like its about to dump.
Open Interest is currently at ATHs!
What we can see here over the last year is that every single time Bitcoin Open Interest has hit this level, it has reversed hard.
What this shows us is that leverage in the system is extremely high right now.
An interesting observation here though is that Bitcoin tends to reverse from whichever direction its going as it hits this OI level.
On 10/10 we pumped into it an dumped hard as OI collapsed.
Then at $80k, $60k and $59k, we moved higher after OI hit this level.
This is because leverage traders almost always trade with

Its mad how similar these two periods are.
Bitcoins current bear cycle is almost a complete mirror of 2019.
Its the only one where it matches the timeframe of reaching oversold levels this quickly.
Its also a very similar shape, and it just so happens to be after a mid cycle top that never overextended, just like the top we had in October.
But most notably, look at the timeframe from top to the COVID low, and the what timeframe we are in from the October top.
Almost exactly the same, only a few days behind.
Are we going to get a similar capitulation low down to those low $50k levels?
Will it b

We just had the largest 4H liquidation candle since the peak in October.
Bigger than the $80k bottom and the $60k bottom.
And even bigger than the recent sweep to $60k where we had a total of $6bn liquidations in 3 days.
That's a mammoth liq candle, damn.
Some big positions got unwound there.
Bitcoin doing a great job of taking out every single long that has ever existed, ever, lol.

Bitcoin has done something it has never done before.
For the first time ever, in its entire history, it has totally decoupled from everything.
- Small cap stocks
- Global liquidity
- Business Cycle
- Copper/Gold(not pictured)
If it was only one of these things you could write it off as nothing.
But every single one? For the first time? All at the same time?
Something large has changed.
Is It the institutions? Saylor?
Something else?
Who tf knows... but something fundamental has shifted here.
You can go on about the 4 year cycle if you want...
But what you have to understand is that the 4 yea

Very forced moved here from Bitcoin.
Something like 16 out of 18 15m candles are red.
OI exploding as price drops, with funding sharply declining.
Late shorters gonna get rekt here soon.