BTC/USD very close to a bear-stops short liquidation cascade
Disclosure: Currently long BTC from 6.9k
This is a nervous place to buy here, and if I was out of the market I probably wouldn't buy it unless with very calculated entry + stoploss.
BTC is very close to triggering a lot of short-seller stops which would cause price to spike quickly as shorts scramble to cover. However, it has to get over 9.2k to do it.
Does BTC have legs to trigger the stops now? Or will bears get a relief dip into 8.4k to retest the log trendline (and a good opportunity to close short)?
Find out in our next exciting episode of ....
This is a nervous place to buy here, and if I was out of the market I probably wouldn't buy it unless with very calculated entry + stoploss.
BTC is very close to triggering a lot of short-seller stops which would cause price to spike quickly as shorts scramble to cover. However, it has to get over 9.2k to do it.
Does BTC have legs to trigger the stops now? Or will bears get a relief dip into 8.4k to retest the log trendline (and a good opportunity to close short)?
Find out in our next exciting episode of ....
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More bear stops to take out
