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Last night, the bulls were crushed badly, with long and short liquidations nearly at a 9 to 1 ratio. I know how many people got in: seeing $BTC bounce up from the oversold zone, the thought "it's going to reverse" popped into their heads, so they chased in with leverage, only to be wiped out completely by a spike. Oversold is not a buy signal; oversold just means "a sharp drop"; chasing longs during a sharp drop is as foolish as naked shorting at a high — both are using directional feeling as odds. The market doesn't reward bravery, it only punishes itchy fingers. Don't be the kindling in that 90%.