Buy the rumor... sell the news

BTCUSD is coming off its rally now on the denial from Amazon AMZN that it will not accept Bitcoin. Prior to this the run up has been labeled a "short squeeze" as that term has become all the rage in 2021. It did in fact qualify as one seeing as how over 60% of leveraged short positions have cleared out in the bullish move.

From a contrarian perspective... clearing out the leveraged shorts actually increases the probability that a break of the consolidation lows (sub 30k) will induce a violent "long squeeze."