It’s been a tough past few days for Bitcoin traders. After holding ~$9,400, the cryptocurrency temporarily slipped under $9,000 on the weekend. In the process, dozens of millions of BitMEX longs were liquidated.
Yet an analyst has asserted that there’s a high likelihood BTC revisits $10,500. Bitcoin then surmounting that level may lead to even greater gains, with some calling for “new highs.”
Bitcoin Could Soon Revisit $10,500
According to a pseudonymous trader with tens of thousands of followers, there is a “liquidity pool” at $10,500 that Bitcoin will likely retest. He said that this is likely to happen “sooner or later” due to assets’ natural propensities to trade where this is liquidity.
“Macro BTC context: still think we’re heading towards $13K mid term. Massive liquidity pool around 10.5k, price tends to visit those sooner…
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