This $25K BTC price target would spell misery for Bitcoin shorters

Serious BTC short liquidations are just a stone's throw away, but Bitcoin has so far failed to beat resistance.

Bitcoin has an important new price target for bulls to meet — and it is closer than it seems.

As noted by Philip Swift, co-founder of trading suite Decentrader, $25,000 is now a critical BTC price level.

Bitcoin price rally near "a lot of liquidity"
After putting in 40% gains in January, Bitcoin continues to consolidate around the $23,000.

Opinions are split as to what will happen next — after more than a year of bear market, plenty of market participants expect a dramatic correction and even new multi-year lows of $12,000 or worse.

Others believe that the good times can continue and even see BTC/USD reach $30,000 before checking its relief rally.

In the meantime, however, some are focused on another line in the sand much closer to current spot price.

For Swift, the area around $25,000 is now especially significant. This, he noted in a tweet on Jan. 24, is where bears begin to get liquidated en masse.

Full Article: https://cointelegraph.com/news/this-25k-btc-price-target-would-spell-misery-for-bitcoin-shorters

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