$150M in Liquidated Shorts and the Bitcoin Price Finally Crosses $45K – What’s Next?

The 5th attempt will have been the right one.

Mar 28

This is it!

After 4 unsuccessful attempts, each of which was marked by more or less strong rejections, the price of Bitcoin has managed to break through the major resistance at $45K/$46K. Last week I told you that the fifth attempt was coming as the price of Bitcoin offered us a bullish trend from the local support at $37K with Higher Lows and Higher Highs:

In Bitcoin We Trust Newsletter

Bitcoin Supply Side Is Setting Up for a Moon Shot, but Its Price Still Lacks a Key Element To Take Off.

With the price of Bitcoin still in its lateral range between $37K and $46K since the beginning of March 2022, I had not bothered to give you an update on the short-term price of Bitcoin. Things seem to me to be about to change. While we should always be cautious with the price of Bitcoin in the short term, I'd like to detail two scenarios that could be in store for us in the near future…

8 months ago · Sylvain Saurel

Two scenarios were then possible. And it was the first one that prevailed, with the price of Bitcoin breaking through the resistance in the last few hours:

Nearly $150 million in short positions were liquidated:

Keep reading with a 7-day free trial

Subscribe to In Bitcoin We Trust Newsletter to keep reading this post and get 7 days of free access to the full post archives.