Bitcoin Price Analysis: Bulls Reverse Entire Bearish Drop
Summary:
- A $1,500 candle proved bullish resolve for the bitcoin price as the entire bearish drop that occured this week was engulfed.
- The market is currently testing a major level in the $8,800s and there is a potential short squeeze setup that could propel the market even further. There are a ton of stops built up over the last month that could take quite the beating if we break our range-high level.
- A short squeeze would have the market testing the next macro level in the mid-$9,000s.
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