The last thing I’d do now would be to short Bitcoin – just sayin’

Bitcoin price jumps above $28K after 1.5K BTC shorts ‘blown out’

“Data from Cointelegraph Markets Pro and TradingView showed BTC/USD hitting $28,159 on Bitstamp.

The abrupt uptick came courtesy of exchanges, where a band of shorts was ‘blown out’ to remove resistance and allow higher levels to return.

As noted by the analyst, Skew, these shorts were left over from Bitcoin’s prior moves and were worth around 1,500 BTC.

‘Looks like the previous bounce was shorted heavily & those shorts just got blown out,’ part of the accompanying commentary stated.

According to analytics resource Coinglass, total BTC short liquidations for March 29 stood at nearly $20 million at the time of writing.”

https://cointelegraph.com/news/bitcoin-price-jumps-above-28k-after-1-5k-btc-shorts-blown-out