Bitcoin is gearing up for a face-off with leveraged shorts just above its annual open price, with the key level around $93,500 being the focal point for traders aiming to solidify the recent breakout. Analysts speculate that the next support retest could bring the price down to $87,000. On April 24, Bitcoin (BTC) remained below a crucial resistance level as forecasts hinted at sub-$90,000 levels. Data from Cointelegraph Markets Pro and TradingView indicated that BTC\/USD retested $92,000 as support overnight, maintaining six-week highs while global markets grappled with uncertainties surrounding the ongoing US trade war. Traders observed the market’s positive trend and anticipated a bullish announcement soon. Despite news events affecting equities and gold, Bitcoin continued to exhibit resilience. Crypto trader Micha\u00ebl van de Poppe noted that a slight correction was normal following a significant breakout, expecting buyers to step in and drive the price towards a new all-time high. However, some market participants speculated on the possibility of a deeper correction, potentially pushing the price below $90,000. Bitcoin bulls are eyeing the yearly open level above $93,000, which currently acts as a resistance level. This coincides with potential liquidation levels on exchange order books, setting the stage for a potential short squeeze if the price targets these levels. Liquidation leverage data from CoinGlass highlighted a concentration around $93,600, while Spoofy the Whale recently removed a significant sell wall at $90,000. This article emphasizes that it does not provide investment advice and recommends readers to conduct their research before making any financial decisions.<\/p>\n","protected":false},"excerpt":{"rendered":"
Bitcoin is gearing up for a face-off with leveraged shorts just above its annual open price, with the key level around $93,500 being the focal point for traders aiming to solidify the recent breakout. Analysts speculate that the next support retest could bring the price down to $87,000. On April 24, Bitcoin (BTC) remained below […]<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"footnotes":""},"categories":[25],"tags":[],"aioseo_notices":[],"featured_image_urls":{"full":"","thumbnail":"","medium":"","medium_large":"","large":"","1536x1536":"","2048x2048":""},"author_info":{"display_name":"","author_link":"https:\/\/vanillanews.com\/index.php\/author\/"},"category_info":"JUST IN<\/a>","tag_info":"JUST IN","comment_count":"0","_links":{"self":[{"href":"https:\/\/vanillanews.com\/index.php\/wp-json\/wp\/v2\/posts\/109627"}],"collection":[{"href":"https:\/\/vanillanews.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/vanillanews.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/vanillanews.com\/index.php\/wp-json\/wp\/v2\/comments?post=109627"}],"version-history":[{"count":0,"href":"https:\/\/vanillanews.com\/index.php\/wp-json\/wp\/v2\/posts\/109627\/revisions"}],"wp:attachment":[{"href":"https:\/\/vanillanews.com\/index.php\/wp-json\/wp\/v2\/media?parent=109627"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/vanillanews.com\/index.php\/wp-json\/wp\/v2\/categories?post=109627"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/vanillanews.com\/index.php\/wp-json\/wp\/v2\/tags?post=109627"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}