Bitfinex traders double down on bitcoin during five-day slide as longs hit 2.5-year high
Hex37's read
- Bitfinex margin longs reach a 2.5-year high.
- Bitcoin faces strong technical resistance near $78,000.
- Traders are aggressively buying the dip during a five-day price slide.
What it means for traders
- High margin longs suggest bullish sentiment, but risk a potential long squeeze if $78,000 resistance holds.
- Monitor for liquidation cascades if BTC fails to break resistance and price drops further.
Affected markets
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