What's Good Bitcoin? We're Back To Where We Came From!
As excited as everybody was when we left the sideways channel a few days ago, most of them were as scared when we dropped back.
Once again, things escalated quickly due to the liquidation of leveraged positions after Bitcoin lost the 62k level. "According to CoinGlass, some $85.93 million in bitcoin liquidations have occurred."
Looks like people will never learn...
However, let's look forward.
The funding rate looks healthier now. Conversely, we haven't seen a strong response by bulls. Accordingly, we are back in our sideways channel â trapped between 57k and 61/62k. Glad, I didn't delete the lines on my chart yet đ
Today, we have NVIDIA reporting, and they are expected to deliver some record numbers. This would most certainly fuel a relief rally and could liquidate tons of shorts that have already been building up.
