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The largest short liquidation in nearly two months
1. The breakdown of the US-Iran negotiations did not push BTC price below the EMA20; after a pullback, it surged with volume, just one step away from breaking out of the two-month consolidation range.
2. A large number of retail traders crowded into short positions at 70000-76000, which is also one of the reasons behind yesterday’s rapid rally. Over $220 million in short positions were liquidated—serving as acceleration fuel.
3. In the ideal scenario, BTC will first break through 76000, wipe out short-term shorts, then after a slight adjustment, head for above 80,000
$BTC #Gate13周年