Hello, $20,000? BTC surges to one-week highs after smoking speculative shorts.
Bitcoin thus kept volatility — and liquidations — coming as spot price bounced around an established trading range.that liquidations in a single hour on the day were the highest on those timeframes in over a month.
Data from monitoring resource Coinglass put total BTC liquidations at $116 million in the 24 hours to the time of writing. Cross-crypto liquidations totaled $327 million.While failing to reclaim the $20,000 mark, Bitcoin was succeeding in flipping traders’ outlook to the bullish side.that the signals were there for an extended upside breakout.
“Our last two major impulses were both preceded by around 120 days of relatively low-volatility consolidation before they began,” he summarized. “It's supposed to be boring- it's part of the process. The more boring it gets the better it is for the coming expansion.”Trader on future bottom: CPI move"isn't it"Related:In a sign of potential trouble brewing, the U.S. dollar index began clawing back lost ground on the day in what could yet take the momentum out of the risk asset rally.
Summarizing the situation, popular trader Roman said that while it paid to be"macro bearish," there was no reason to ignore the signs of what should be a temporary relief rally."There’s bullish divergence on every higher timeframe and the DXY has bear divs. USDT.D rejected resistance as well. Tiny brained investors shorting the bottom yet again."The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com.
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