Bitcoin: Clears $82,000, Triggers $510M Short Liquidations
Bitcoin surges past $82,000 for first time since May 11 as $510 million shorts liquidated. 4h chart shows RSI overbought at upper Bollinger resistance with EMA50 support at $77,985.
SourceAnalysis
Bitcoin pushed above $82,000 for the first time since May 11, forcing $510 million in shorts to cover within 24 hours.
Price action on the 4h chart places BTC directly against upper Bollinger resistance at $81,288 while RSI(14) prints 71.63 in overbought territory. The EMA50 at $77,985 and EMA200 at $72,363 remain the primary support layers beneath current levels. With price testing upper Bollinger resistance while RSI flashes overbought, a healthy retracement to the 50-EMA support at $77,985 seems probable before further continuation. This move aligns with elevated short liquidation volumes and sustained bullish MACD momentum at 571.64.
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