The 4 Major Points of Concern for the Bitcoin Price in the Short Term.
A retest of the $20K is coming up in the days and weeks to come.
A massive liquidation of long positions in the Bitcoin market on March 3, 2023, caused the price of Bitcoin to fall sharply below $22K. In total, nearly $80M in long positions were liquidated:
With such low trading volumes on the spot market, this directly affects the price of Bitcoin, which is currently trying to defend the support located in the area between $22.3K and $22.6K that I mentioned in my point on the three potential scenarios on the price of Bitcoin for March 2023:
For the moment, the second scenario that I favored seems to await us in the coming days: a possible retest of the lower supports towards $20K.
At the moment, there are 4 major points of concern that are holding back the Bulls and seem to favor the Bears in the short term. I will try to present these 4 points to you and give you my feeling on how they could impact the price of Bitcoin in the short term.
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