In April it went from 7k to 10k with that short squeeze. As previously mentioned, we are now in the midst of the same scenario. Strong cross, looks good.
What's interesting about this scenario that's playing out is the last initial short squeeze propelled BTC from 7k to 8k and went down by 14k in contracts. While we have moved up from 6-7k and there has only been a squeeze out of roughly 7k in contracts. We still have a lot of lemonade to make with those bear tears and this will continue to drive BTC higher.
We'll look to get out just under 10k. You can put a protective stop in place, all though I don't think it's necessary. Timing wise, I think this will take until the end of September.
Reason for the move? A large short increase and longs hardly dumped....
The rekt analysis is good. Thanks.
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Take a look.
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Bro, the market dont realy care about what you think do it?