Bitcoin Surge Blasts $170M in Bearish Shorts as BTC Price Targets $48K

“The staging for this rally already started in the week beginning 10/23 when BTC managed to overcome the iron-beam resistance in the $30k area,” shared Julius de Kempenaer, senior technical analyst at StockCharts.com, in a note to CoinDesk. “On the weekly chart, the next expected level of resistance is around $48k, the peak set at the end of March 2022.”

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