🔥 Bitcoin Short-Squeeze Triggered: What's Next?
Yesterday I made an analysis on Bitcoin's near term outlook. Here I argued that the outlook was definitely bullish and a short squeeze might be triggered since so many traders are shorting at the moment.
Against all expectations, last night the short squeeze triggered, and we saw a massive increase in price. For fun, take a look at what happened on the BTC futures chart below. A 22.8% increase in price in 1 minute, this can only happen during crazy amounts of stop-losses being hit and liquidations.
Like yesterday, I'm still bullish on the short term. Point of interest is the fact that we're currently seeing 6 green days in a row. The last time we saw 6 green days was during the massive run up early January, so it's to be expected that BTC will need to cool off a little in the near future.
The most bullish scenario would be for BTC to decline between 3-5 percent, and bounce off the yellow area of minor support.
Thereafter, 40k-42k are the new major resistances. I'm not expecting BTC to hit this area again today, but later this week we could definitely see a 40k Bitcoin.
Happy trading!
Against all expectations, last night the short squeeze triggered, and we saw a massive increase in price. For fun, take a look at what happened on the BTC futures chart below. A 22.8% increase in price in 1 minute, this can only happen during crazy amounts of stop-losses being hit and liquidations.
Like yesterday, I'm still bullish on the short term. Point of interest is the fact that we're currently seeing 6 green days in a row. The last time we saw 6 green days was during the massive run up early January, so it's to be expected that BTC will need to cool off a little in the near future.
The most bullish scenario would be for BTC to decline between 3-5 percent, and bounce off the yellow area of minor support.
Thereafter, 40k-42k are the new major resistances. I'm not expecting BTC to hit this area again today, but later this week we could definitely see a 40k Bitcoin.
Happy trading!
🎯Official Channel: t.me/FieryTradingChannel
📈Try my Premium Signals for FREE - 80% Win-Rate: t.me/FT_Futures_free
✅Monster Signals: t.me/monster_cryptosignals
🔥Premium Signals: fierytrading.com
📈Try my Premium Signals for FREE - 80% Win-Rate: t.me/FT_Futures_free
✅Monster Signals: t.me/monster_cryptosignals
🔥Premium Signals: fierytrading.com
Bài đăng liên quan
Thông báo miễn trừ trách nhiệm
Thông tin và ấn phẩm không có nghĩa là và không cấu thành, tài chính, đầu tư, kinh doanh, hoặc các loại lời khuyên hoặc khuyến nghị khác được cung cấp hoặc xác nhận bởi TradingView. Đọc thêm trong Điều khoản sử dụng.