Bitcoin (
Bulls probably have less margin to support the price
Bitcoin bulls need to push the price above $18,000 on Friday to secure a potential $130 million profit. On the other hand, the bears’ best-case scenario requires a slight push below $16,500 to maximize their gains.
Bitcoin bulls just had $230 million leverage long positions liquidated in two days, so they might have less margin required to support the price.
Considering the negative pressure from traditional markets due to recession concerns and raising interest rates, bears will likely avoid a loss by keeping Bitcoin below $17,000 on Dec 9.
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This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
