Bitcoin has surprised the market by getting back above its bullish trend line, which it had lost last week. Will $BTC now continue to consolidate above before heading for the highs again, or is this yet another trap?
Source: Coingecko/Trading View
Bears liquidated – bulls next?
Bears were shaken out of their short positions as $BTC rose back above its trend line last Monday. Since then price has consolidated above, and now things are starting to look a lot rosier.
That said, $BTC may not be out of the woods yet. Having shaken out many of the bears after liquidations, it could happen that another dip does the same to the bulls.
According to the liquidation heatmap on Coinglass, $88 million in long liquidations would take place at a price of $41,810, and at $41,389, a further $94 million would be liquidated.
To the upside, $112 million of shorts would be liquidated at the price of $42,652. Given that $BTC is currently ranging between $39,000 and $44,000, it might be expected that at
We współpracy z: https://cryptodaily.co.uk/2024/01/bitcoin-btc-back-above-trend-will-it-last
