After a failed second attempt to break above, Bitcoin remains below the $8,450 resistance. Daily volume is currently hitting another all time high, just above $34 billion.
Short positions have dropped nearly 41% inside of 1 min. In other words, 1 person liquidated a ton of shorts. Strangely enough, it happened on an insignificant candle, and barely effected price at the time of execution.
In today’s analysis I discuss what a drop in shorts might mean to the market, key areas to watch, where my buy orders are waiting and so much more. I hope you find it helpful.
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