Yesterdays pump was a perfect example of a bear trap. When the price fell out of the channel, many decided to take leveraged short positions that were quickly triggered by the unexpected increase in price, which at the same time triggered more positions, remember that when a short position gets liquidated a buy order is placed.
Today Bitcoin has surprisingly remained strong and stable without having to pull back to 7500, for the short-term I see solid support at around $8.000 and I think that BTC could break the 8250 resistance today and test the 8800 soon.
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Today Bitcoin has surprisingly remained strong and stable without having to pull back to 7500, for the short-term I see solid support at around $8.000 and I think that BTC could break the 8250 resistance today and test the 8800 soon.
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