Whipsaw BTC Price Action Puts Shorts on the Chopping Block at $90,000
Summary
Bitcoin rose to $90,000 after the Wednesday Wall Street open, briefly gaining 2.5% before reversing. Traders targeted short positions, with significant short liquidations exceeding $120 million in four hours. Resistance was noted at $88,000, with some analysts suggesting momentum could drive the price to $93,000–94,000, while $95,000 remains a key liquidity zone. However, analysts caution a breakdown is likely, with Bitcoin at risk of losing support near its 100-week SMA and EMA, both just below $85,000. Some predict a further drop to $76,000, viewing current moves as a temporary bounce rather than a trend reversal.
