Bitcoin Bulls Hold The Line At $20,700, But Bigger Losses Are Imminent?

Bitcoin Bulls Hold The Line At $20,700, But Bigger Losses Are Imminent?


Bitcoin lost steam the previous day and seems poised to re-test its support levels in the coming days. The cryptocurrency rallied on the back of favorable macroeconomic winds and high upside liquidity from overleveraged short traders. 

As of this writing, Bitcoin trades at $20,800 with a 3% loss in the last 24 hours. BTC remained positive during the previous seven days and recorded a 16% profit. The number one crypto by market capitalization is the best performer in the top 10. 

The Biggest Obstacle For Bitcoin In The Short Term

Trending: WOW! New Poll Shows Most GOP Voters Oppose Ronna McDaniel For RNC Chair… Here’s Who They Support Instead

NewsBTC reported that short positions were piling up as Bitcoin trended to the upside. The market took out over half a billion dollars in short positions. As the market trended upside, these positions were

Continue reading


 

Join the conversation!

Please share your thoughts about this article below. We value your opinions, and would love to see you add to the discussion!

Daily Truth Report • DailyTruthReport.com
Thanks for sharing!
Send this to a friend