Bitcoin makes a new high of $27K- Are shorting opportunities limited

Suzuki Shillsalot
Suzuki Shillsalot

18 Mar 2023 4:30 PM

Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion Bitcoin made a new high recently.  The bulls were adamant despite lingering sell pressure.  Bitcoin [BTC] retested the $26K price level twice within a week. Investors partly fueled the retest, seeking alternatives following the […]...

  • Bitcoin recently made a new high of $26.39K after retesting the $26K price level twice within a week.
  • Investors seeking alternatives following the U.S. bank run and declining faith in the traditional banking system partly fueled the retest.
  • BTC's value is currently hovering around its June 2022 price level at $27.30K.
  • The sentiment was positive despite increased selling pressure, with the Relative Strength Index (RSI) highlighting increased buying pressure and the On Balance Volume (OBV) showing genuine demand for BTC.

The sentiment in the article is mostly positive, with the writer highlighting BTC's recent new high and investors' confidence in BTC despite increased selling pressure. However, there is also mention of market uncertainty and financial instability, which could be seen as negative.

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Related Questions

What caused BTC to retest the $26K price level twice within a week?
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