THELOGICALINDIAN - Bitcoin is clearly trading at the accomplished prices it has anytime apparent with its longheld bender of alliance below 20240 ultimately consistent in it seeing an atomic move higher
Where the crypto trends in the mid-term should depend abundantly on whether or not it can sustain its accepted momentum, as it now needs to anatomy abutment amid its accepted amount and the lower-$20,000 region.
The massive abundance of underwater abbreviate positions does assume to announce that upside could be approaching in the canicule advanced as bears capitulate and abutting their underwater positions.
Bitcoin Enters New Epoch: Price Breaches $20,000
At the time of writing, Bitcoin is trading up aloof beneath 6% at its accepted amount of $20,550. This is about area it has been trading throughout the accomplished few hours, with the affairs burden apparent in the upper-$20,000 arena proving to be significant.
BTC rallied as aerial as $20,800 today afore it begin some attrition that slowed its ascent.
It is important to agenda that the breach aloft $20,000 does arise to be consistent in a short-squeeze, arch to added upside.
Every BTC Bear is Now Underwater
Except for any buck who shorted $20,800, around every Bitcoin short-seller is currently underwater.
The massive abundance of abbreviate orders abstemious throughout the upper-$19,000 arena are acceptable all actuality – or on the bend of actuality – liquidated, which could actualize a clasp that sends BTC rocketing higher.
The advancing few canicule should flash a ablaze on area the new abutment and attrition levels are established.
