BTCUSD rally likely to continue

COINBASE:BTCUSD   Bitcoin / U.S. Dollar
BTCUSDSHORTS remains elevated. As a contrarian indicator, this will provide the fuel for bitcoin to rally from current levels.

Additionally, on the daily chart , the moving averages are bunched, suggesting a breakout is near.

The $7400 level will be the real test. A sustained break above it would usher in further gains, and create bullish momentum that should last.
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