Market Analysis: Bitcoin (BTC) has maintained its strong position at $104,500, despite facing a significant amount of short selling pressure. According to data from top cryptocurrency exchange BitMEX, around 60% of traders have placed bets against Bitcoin in the past few days. However, this has not been able to shake the leading cryptocurrency's bullish momentum. Bullish Technicals: Bitcoin's technical indicators remain overwhelmingly positive, with many analysts predicting further bullish movement in the near future. The crypto's Relative Strength Index (RSI) is currently at 65, indicating a strong buying pressure in the market. Moreover, the Moving Average Convergence Divergence (MACD) has also crossed over into bullish territory. Rising Short Liquidations: Amidst all the negative sentiment surrounding Bitcoin, there has been a significant rise in short liquidations. This means that traders who had placed bets against Bitcoin have been forced t...
Welcome to Daily Crypto Talkies News, your ultimate source for latest and most relevant news, insights, and updates from the world of cryptocurrency. Our blog aims to provide valuable information to crypto enthusiasts for only learning purpose.
Join with us !
Download App Now