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BTC came for long positions
Price chart of BTC by Tradingview

BTC came for long positions and liquidated $700 million in a single day

BTC came for long positions  yesterday when the price fell to the expected mark of correction below $63k. $700 million were liquidated in a single trading day and 81% were long positions.

BTC came for long positions:

The big day for the BTC turned out to be a bloodbath for the long position holders. Yesterday, BTC made ATH and everything was looking good but then all of sudden the Price of the flaghship currency took a nosedive and price went below $63k. BTC price recovered to $65k after this bloodbath and still consolidating around this mark. BTC came for long positions and liquidated almost 81%, mostly on Binance. Overall whole crypto market loss was around $200 million.

Technical Analysis:

BTC came for long positions
Price chart of BTC by Tradingview

Technical analysis of BTC shows that it has two possible scenarios; one Bitcoin can come down to the $56k to retest its support if it drops below the $63k. For the continuation of the bullish move of BTC the resistance level at $66k-$67k will play an important role. The 24h trading volume of BTC is surprisingly up by more than 40%. The moving averages and RSI is quite low.

Bitcoin move are so volatile and unpredictable so DYOR.

About mnmansha

MN Mansha is a cryptocurrency expert, trader, and content writer with extensive experience in covering everything related to digital assets — from price analysis to Blockchain disruption. Mansha authored 100+ stories for NewsBSC.com and other fintech media outlets and he's actively writing more every day. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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