If we can manage to break above resistance we will see a short squeeze.
Comments
rubBit
⋅
Is this squeeze a consolidation reaction of past 14+ days free fall? Or it is a reaction triggered by fear of (EU/usa-)Ukraine-RU war (stocks falls in all main international exchanges)? How far could this bull go in short/long time perspective(of course analytically),? 749? Price break quite a few bear trend lines, but it is enough to say long bull, or just neutral?
Did the price hit a (anual)bottom with a touch of 400usd a few days ago or it will revisit it?
Look forward to hear your thoughts.
jscorp1618
⋅
This rally was the result of many factors. A big fundamental issue (Gox) has been put behind us now. In addition, our last selloff to 400 was on massive volume which took out all of the weak hands and we quickly retraced.
750 would be the next target to the upside and 640/610 should act as support. Consolidation after a rally like this is to be expected. Visiting the 400 level would be unlikely unless, of course, we come across some fundamentally bad news.
Did the price hit a (anual)bottom with a touch of 400usd a few days ago or it will revisit it?
Look forward to hear your thoughts.