Bitcoin Price Hits $45.5K, but a Pullback With Consolidation on Supports Is Needed To Confirm the Momentum Reversal

For now, it's just the usual volatility of Bitcoin that is operating.

Things accelerated at the beginning of the week with the price of Bitcoin breaking through the upper resistance I was telling you about recently. This resistance was located in the $43.5K-$44K area:

Bitcoin broke through this barrier yesterday as more shorts were liquidated. A high of $45.5K was even hit quickly. Over the past 5 days, more than $250M of shorts have been liquidated for Bitcoin:

Bears who were hoping for a drop to the $30K-$33K area, or even lower, are being punished for the moment. Several announcements precipitated this short squeeze yesterday. Tesla, which had confirmed a few days ago that it had not sold any BTC by the end of 2021, has just announced that it will soon start supporting Bitcoin as a means of payment for its cars. Nothing extraordinary, but always a positive sign that is good to take.