, 2022-05-14 04:30:50,
Bitcoin (BTC) failed to reclaim $30,000 into May 14 as traders looked forward to a relatively stable weekend.
Bitfinex longs gather strength
The pair had reached just shy of $31,000 before retracing, while the end of the traditional market trading week had been accompanied by fresh warnings of a new macro low still to come.
#Bitcoin – Looks like we might get the inverse H & S before going into the weekend. Hoping to see this 4h candle hold and see it push up. Then I’ll move stops in profit and let it ride during the weekend. 2% risk, 2% stop loss. pic.twitter.com/lxRuk3M43G
— IncomeSharks (@IncomeSharks) May 14, 2022
Not everyone stayed on the sidelines as the dust settled. On major exchange Bitfinex, long leverage continued expanding, having already hit all-time highs.
“Another day has passed and the Bitfinexors are still loading up as if someone has a gun to their head,” commentator Johal Miles reacted alongside a chart showing the trend.
Terra plans spark frenetic LUNA moves
Attention nonetheless focused more on Blockchain protocol Terra’s LUNA token on the day.
After losing practically all of its value in a week, LUNA saw a rebound which was tiny compared to its all-time highs above $100 but hugely lucrative for short-term traders.
Despite its supply ballooning to 6.9 trillion tokens, LUNA subsequently appreciated 100 times from its floor price on news that creator Terra had plans to “revive” its ecosystem.
Faced with the price action, many were in disbelief.
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