Binance Top Traders Go Short On Bitcoin At $60,000, What’s Going On?

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Binance Top Traders Go Short On Bitcoin At $60,000, What’s Going On? - NewsBTC

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On the other hand, he stated that Bitcoin could rebound to the mid or upper levels at $60,200 or $62,000 if it holds the lower boundary of the parallel channel. Meanwhile, crypto analyst Jelle recently highlighted $65,000 as the price level Bitcoin must reclaim to enjoy a bullish reversal.

This development suggests that the flagship crypto might soon experience significant downward pressure. Binance Top Traders Are Shorting BTC Martinez revealed in an X (formerly Twitter) post that 51.41% of the top traders on Binance are shorting Bitcoin.

At the minimum, the economist expects BTC to drop to the upward trend line at about $42,000, but he doubts it will hold that support line. Related Reading: Dogecoin At $0.1 Is A Gift’, Falling Wedge Breaking Bullish To Send Price To $0.2 As such, he predicts that Bitcoin will retest the longer-term support between $15,000 and $20,000.