BTC Flash Crash: 3 Charts Traders Are Watching Closely

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BTC’s price decline is relatively less severe than what occurred before significant reversals in the past, suggesting that Bitcoin may continue its uptrend.

Bitcoin’s broader uptrend and on-chain data suggest the market remains in an expansion phase.

Strong dip-buying by “sharks,” and key trendline support point to another BTC rebound.

Bitcoin attempted to recover a day after traders witnessed the biggest single-day wipeout on record, with over $5.39 billion in leveraged positions liquidated in 24 hours, which is twice as large as the “COVID-19 crash” in 2020.

As of Saturday, BTC’s price had rebounded by 8.50% after dropping to its local low at around $103,000. At the time of writing, it remains down 11% from its record high of $126,300, set earlier in the week.

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