Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Bitcoin Forum => Bitcoin News & Updates => Topic started by: Shahinaz on November 18, 2021, 04:13:03 PM
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The bottom may not be in just yet for Bitcoin, but hope remains of a run to $90,000.
Bitcoin price seesaws beneath $60K as anticipation builds for fresh BTC ‘short squeeze’
Bitcoin (BTC) chopped and changed on Nov. 18 but held a critical support level to preserve the chance of new all-time highs.
(https://s3.cointelegraph.com/uploads/2021-11/51ccf793-88f9-469c-8fc0-a3ac162c1946.png)
$90,000 remains on the table
Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it ranged between $59,000 and $60,000 Thursday, seeing $1,000 swings in minutes.
With the pair’s overall range becoming ever narrower, talk turned to a potential “short squeeze” entering to push its spot price to new, higher levels.
“Based on the Futures Market structure, the funding rate and OI momentum trends are forming a perfect setting for a ‘Short-Squeeze’ scenario," one contributor to on-chain analytics firm CryptoQuant argued Wednesday.
“Then the question is, what price range would act as a support level?”
soruce : https://cointelegraph.com/news/bitcoin-price-seesaws-beneath-60k-as-anticipation-builds-for-fresh-btc-short-squeeze