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BTC BULLISH MOVEMENTS A LIQUIDATION PROCESS OR A NEW BULL RUN?

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Author: @madridbg, through Power Point 2010, using public domain images. Kaifixed

Greetings and welcome dear members and readers to this space, where we usually share various content, this time we will be referring to the behavior that has been generating the Bitcoin in the last week.

Therefore it is necessary to highlight that there is a diversity of information where they bet on a new bullish run on the BTC asset, an increase that begins to be noticed from July 26 of this year, exceeding $ 38,000 which represents more than 7% increase. This scenario has undoubtedly resulted in the liquidation of more than 900 million dollars to all those users with entries in bearish positions and who were over leveraged.

No doubt assuming a bull run is hasty at this point since according to the BTC price action as of May 19 Bitcoin has entered a period of laterization or range between the $30,000 to $40,000 zone.

Fig. 2. BTC/USDT daily time frame chart. tradingview

So by the date this writing has been published we notice that the BTC price is above $42,000, breaking the top of the range we have delimited, which leads me to think that it is an area to liquidate those who bet on the bull market, so from my perspective, before a really strong breakout, there should be a pullback to gain and find new investors that will allow the price to rise strongly.

I mention the above as it is more than 7 days where the market rises only with bullish green candlesticks for a total increase of more than 22%, without respecting the normal undulatory movement of the market, which if it continues would lead us to an extremely strong fall of the crypto asset.

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