Bitcoin SHORTS at All Time High: Squeeze coming? ($5000 x BTC??)

Bitcoin SHORTS are now sitting at all time highs while LONGS are near its lows... Are the SHORTerS getting ready to be squeezed?

Bitcoin has been going through a long consolidation period and has been hit twice by negative news from the SEC. People were expecting $1000 per Bitcoin once the SEC rejected the ETFs it had pending approval but instead the price remained the same. What will happen next?

Here is my main Bitcoin chart:

Long term Bitcoin view (Opinion)

I believe we will continue to trade within the triangle (red dotted line and green square) until Bitcoin finally breakout, up, and starts a new strong uptrend.

The last drop can take us out of the triangle but we wouldn't last long there. If Bitcoin is to drop strong it should bounce back up quickly... When looking at the bullish scenario long term.

On the bearish side, I can see Bitcoin going lower, having a failed run up to finally keep on crashing, which can continue until around February when inevitably the next up run will start. This scenario is less likely in my opinion but obviously still very possible.

Regardless what happens to Bitcoin in the short term, we have great potential and expectations for the long term... Let me tell you a quick story...

The $5,000 Bitcoin Milestone

A long, long, long time ago - actually just last year (2017) - a $5,000 Bitcoin was a dream that too many considered impossible to achieve.

With Bitcoin reaching a low of $735 in January 2017 and $888 of March of the same year, $5,000 was still really far away. But by mid July, Bitcoin had bounced from a $1826 low. Now, the $5,000 was still impossible for many... guess what? Bitcoin reached $20,000 only after a few more months. The impossible to achieve barrier of $5,000 had already been broken by mid October and now, ~$5755 is the lowest we have seen Bitcoin in 2018.

$5,000 is no longer a barrier, only a year later...
$5,000 for us now is simply a very strong support.
Trust BITCOIN, as it will continue its climb up!

So what will happen next?

Will Bitcoin go down to $1000 in 2018-19 or will it go up once again?

Use the comment section to share your thoughts and charts as well.

I appreciate you for reading... That's all I have for today.

Note: This article is no trade advice. This is shared for fun, learning and entertainment.

Thanks for your continued support!

Alan Masters here...

Namaste.

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Note: This post is pure opinion.

I will be sharing a technical analysis on the next post.

Feel free to comment, like, share & follow for more...

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We continue going sideways...

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Chart from one of our great followers / commentators:

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And another one from our followers:

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Bitcoin moving up just now...

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Another great article on Bitcoin by @goldbug1

Enjoy!

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We are going for $6800+

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We are now challenging EMA200 on the 4h TF:

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Trend line = support
EMA200 = resistance

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New Bitcoin trade idea with support and resistance levels (click on image to access - please make sure to like, share, comment and follow):

Namaste.

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Shorts are going down as expected:

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