Bitcoin beats out shorts as BTC price attempts to crack $20.5K
Further fluctuations within the range nonetheless see bulls avoid another retest of more crucial support. Bitcoin (BTC) reclaimed and held $20,000 into Oct. 6 as the latest rebound punished short speculators. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Bitcoin preserves "important" $19,600 zone Data from Cointelegraph Markets Pro and TradingView showed BTC/USD bouncing from local lows of $19,740 on Bitstamp around the Oct. 5 Wall Street open. The pair then reversed prior losses, leading early shorters into $20 million in liquidations in 24 hours. BTC liquidiations chart (screenshot). Source: Coinglass At the time of writing, Bitcoin traded around $20,250, having gone on to reach $20,447 on the day. Michaël van de Poppe, CEO and founder of trading firm Eight, had flagged the lows as a suitable entry point. “Correction indeed taking place in which $19.8K-$19.9K is an area to look for longs, but also a retest around $19.6K is an important one for Bitcoin,” he w...