If you were looking for a Reason for Why we Saw a 10% jump
This is very likely it. I've seen people talking about the "buying" pressure building on order books, but in addition to that look at how many people were betting against the price of BTCUSD lately. This chart shows pressure to a record high, and when this many people think it's going to happen, on recent record LOW volume, you are asking for someone to come in and call the hand.
This Short pressure or a Short Squeeze was a major factor in todays breakout and it could very likely continue if we see this Volume stay in the market.
Fingers crossed here that we see it keep going to the moon, I know I'm wishing I had a bigger position from this morning, as I was one of the folks who thought we were going to see a drop below 6500 towards 5800 and I was saving quite a bit of dry powder to buy in down there.
This Short pressure or a Short Squeeze was a major factor in todays breakout and it could very likely continue if we see this Volume stay in the market.
Fingers crossed here that we see it keep going to the moon, I know I'm wishing I had a bigger position from this morning, as I was one of the folks who thought we were going to see a drop below 6500 towards 5800 and I was saving quite a bit of dry powder to buy in down there.