Analysis: If BTC breaks through the $90,000 resistance level, it may lead to US$1.6 billion being liquidated by "short squeeze"
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March 15th news, according to Cointelegraph, the CME Group Bitcoin futures gap was not filled last weekend between $85,000 and $86,000. The possibility of Bitcoin turning to liquidity upward is increasing. Triggering liquidation above $85,000 may further boost bullish momentum, allowing Bitcoin to form a new high and convert $85,000 into a new support level. If this happens, the next key resistance level will be at $90,000, which could result in more than $1.6 billion short positions being liquidated, thereby retesting the above $95,000 resistance level. Bitcoin analyst Mark Cullen warned that Bitcoin price will continue to fluctuate revisions, meaning that further sideways will be consolidated before a short squeeze occurs.