Bitcoin eyes $58K CME gap next as 8% BTC price rout sees longs ‘rekt’
BTC price weakness takes the market below $59,000 for the first time since mid-July as “relentless” Bitcoin selling pressure persists.
Bitcoin (BTC) analysis now expects BTC price action to target $58,000 next as long positions get “rekt.”
Data from Cointelegraph Markets Pro and TradingView shows ongoing sell-side pressure forcing BTC/USD to three-week lows.
As a grim weekend sets up an equally grim weekly candle close, market participants warn that Bitcoin bulls may face more pain into next week.
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Author: William Suberg
