Bitcoin: Rally Fueled by Short Liquidations
Bitcoin's sharpest rally in two years ran almost entirely on short liquidations with BTC at $81856.33 and RSI at 79.49 on the 4h chart.
SourceAnalysis
Bitcoin's sharpest rally in two years ran almost entirely on short liquidations. BTC trades at $81856.33 inside Bollinger Bands with upper resistance at $83202.39 while the 4h structure holds a bullish trend above EMA50 support at $78316.21 and EMA200 at $75105.65; MACD golden cross at 1272.02 confirms momentum yet RSI(14) at 79.49 flashes overbought, pointing to a probable retracement toward the 50-EMA before continuation in any BTC price prediction model during crypto market crash scenarios.
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