Bitcoin Shorts Near Monthly High and it Could Trigger a Major Price Movement

Bitcoin shorts have increased significantly in recent weeks to a monthly high, an indicator that may suggest a decline in the confidence of investors in the dominant cryptocurrency. Shorts remain an unconvincing indicator of the sentiment in the cryptocurrency market because the take of analysts on the impact of short contracts on the price of Bitcoin differs quite regularly. Speaking to CCN, cryptocurrency technical analyst and trader “Hsaka” said that shorts do not necessarily reflect the sentiment of investors in the market. Short Squeeze a Possibility For Bitcoin? Generally, in most markets, investors associate shorts with a negative connotation because

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Bitcoin Price Breaks Medium-Term Resistance after Surging 8% Near $4,000

The Bitcoin market came back on its bullish track during the February 18’s trading session. The Bitcoin-to-Dollar rate (BTC/USD) on Monday established an intraday high towards 3917, up 8.08% since the open. The pair rallied through the Asian session and continued its upside momentum after the European market opened. Around 1600 UTC, BTC/USD also broke through a strong resistance trendline of the medium-term triangle pattern discussed in our Bart Simpson analysis. Have a look: Last week, we had left the Bitcoin market in a bias conflict. The cryptocurrency was forming what looked like a bull flag. Nevertheless, as the flag

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Traders Who Shorted Bitcoin From All-Time High $20,000 are Cashing Out: Is The Bottom is Near?

In the past two months, several traders who shorted Bitcoin from its all-time high at $ 20,000 have started to cash out in the $ 3,000 to $ 4,000 range. On February 12, a cryptocurrency trader with an online alias “Cryptofungus” revealed that he had closed a year-long Bitcoin short contract. The trader shorted the dominant cryptocurrency since $ 19,665.39. At the time of reporting, the price of BTC remains just above $ 3,500. closing my $ BTC short from 19,665.39 here — Cryptofungus (@crypt0fungus) February 11, 2019 The closure of the trader’s Bitcoin short follows the publicized cash out of former International Monetary Fund (IMF)

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One Trader is Forecasting Bitcoin Price to Sink Near $2,000 Before the Bulls Take Over

In the last 24 hours, the valuation of the crypto market slightly recovered from $ 100 billion to $ 102 billion while the Bitcoin price declined below $ 3,400. In a span of two days, the price of BTC fell from $ 3,445 to $ 3,377 by around 2 percent against the U.S. dollar. Based on the lack of momentum in the price trend of the dominant cryptocurrency, traders expect the market to face more bloodbath before engaging in a strong recovery. $ 2,000 Before a Big Rebound For Bitcoin According to Murad Mahmudov, the Bitcoin price is likely to drop below the $ 3,000 support level

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