Bitcoin: BTC Bulls Are Still In Control (February 2020)

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Bitcoin: BTC Bulls Are Still In Control (February 2020)

Bitcoin bulls had a rough day yesterday as the price crashed by almost $1k in a matter of minutes. This took many traders by surprise and $148 million in longs were liquidated on the Bitmex exchange alone. This move was quite surprising in the way it happened but it was not surprising that it happened. In our previous analyses on the market especially our last one for the day which was on ETH/USD, we specifically said that “Ethereum could see a sharp retracement before bullish continuation”. While I expected the price to decline down to the trend line support over the weekend, it ended up happening a lot sooner than I had anticipated.

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