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Bitcoin Retakes $9K — 3 Technical Reasons There’s Still Room to Run

Published 05/27/2020, 07:49 AM
Updated 05/27/2020, 12:20 PM
Bitcoin Retakes $9K — 3 Technical Reasons There’s Still Room to Run
GS
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BTC/USD
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The price of Bitcoin (BTC) surged above $9,000, demonstrating a decent recovery in the last 24 hours. Market data shows a further upsurge to the $9,300 to $9,400 range is likely in the near-term.

Three key reasons increase the probability of a minor rally: liquidation of 25x to 50x shorts are at $9,300, whales using the Goldman Sachs (NYSE:GS) narrative and low funding rates in the futures market.

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