Bitcoin: Possible Short Term Rally (Short Squeeze)

This is a scenario that *may* play out in Bitcoin. Since December 2021, Bitcoin has been in a tight linear regression channel - and we are nearing what has been a rally point historically in this move. Right now till the beginning of August is also seasonally bullish in the Bitcoin markets, so many factors suggest a short term rally beginning in the next week or two to top around $35k near the end of July before the next leg down - which could take us as low as $7500.

As always, use stop losses, and don't use more than 2x leverage. Stop losses to be placed below the channel as these things do get broken all the time.

Giao dịch được đóng thủ công:

Closed manually because we are near the end of historical bullish seasonality (see bottom chart). We didn't hit our target, but we made a nice profit nonetheless. Historically, Bitcoin has peaked near the middle of August before a September-October dip. This played out in bullish years like 2021, 2020 and even 2017 as well as bearish years like 2019 and 2018.