Bitcoin’s Flash Crash Is A ‘Classic Bull Market Shakeout,’ Says Trader: Watch These 3 Scenarios
Posted On December 6, 2024
Bitcoin’s (CRYPTO: BTC) flash crash from $103,000 to $91,000, an 11% drop, triggered significant liquidations and drew analysis from traders.
What Happened: In a detailed post on X, crypto trader Cold Blooded Shiller called the move a “classic bull market shakeout” targeting late-positioned longs.
Despite this, Bitcoin’s trajectory is still bullish, with Shiller foreseeing a breakout above $100,000 after a period of consolidation.
Bitcoin’s inability to sustain gains between $98,000 and $99,000 hints at a re-entry into its higher timeframe range (HTF), a pattern that could influence altcoin performance in the near …
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