As per The Crypto Basic, Bitcoin is currently testing key resistance on the daily Ichimoku Cloud, with price action consolidating near the upper end of its 24-hour range. Over the past 24 hours, BTC has traded between $87,186 and $93,928, gaining approximately 6.5%. The lower boundary of the cloud is at $91,473, and a full candle close above this level could confirm a bullish shift. Liquidation data shows $220.8 million in short positions were liquidated in the last 24 hours, compared to just $16.6 million in longs, indicating strong pressure on short sellers. Traders are closely watching whether Bitcoin can break out of the cloud and sustain momentum.
Bitcoin Tests Ichimoku Cloud Resistance as $220M in Short Positions Liquidated
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