Crypto Daily – With the market still jittery after successive $BTC drops of $12,000 and $7,000, many who sold might be wondering if it’s safe to get back into . The Bitcoin trendline is holding, and so is the $95,000 horizontal support. How far can this bounce go?
Two flash crashes in succession wipe out leverage
The last crypto flash crash is still very much in the minds of many, and certainly in the minds of those who were liquidated, as Bitcoin fell heavily once again on Monday and Tuesday.
It also needs to be borne in mind that the huge $12,000 BTC crash from top to bottom was only a week ago. If these two crashes did anything, they certainly cleared out most of the leverage in the system, giving the market a clean slate with which to go forward.
Strong buying continues
With Bitcoin now looking to be fully embarked on its recovery, the impact from the huge MicroStrategy buy of $2.1 billion in BTC could now be permeating through the market. That…
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