BTC higher lows since July, bullish signs ahead. SHORT SQUEEZE
Btc is approaching a double top, if we can see a close above the 6,800 resistance price, we can look for enough buying pressure to push thru to 7,100 price level.
Btc shorts increased drastically today intraday but could not push the price back under 6,500 support. Shorts diminished and a small squeeze occurred bringing the price above the 6,700 level where it has been consolidating for a few hours.
If btc cannot push thru 6800 over the weekend, and shorts begin to stack, we may see a drop back to 6,400 where heavy support is. We’re back above the consolidation triangle that it has been bouncing in since march/April.
Btc has been making higher lows since January, and consolidating at a higher price level after each dip indicating further support. A strong push thru 7,100 will face resistance at 7,400. If this occurs it will break the current downward trend for the last few months.
If long positions outweigh short positions, look for a heavy push thru resistance and a price increase of 500+.
This is my personal opinion, this is not investment advice, invest at your own risk and good luck trading
Btc current price 6,714
COMPLETED 7:26 LOS ANGELES
Btc shorts increased drastically today intraday but could not push the price back under 6,500 support. Shorts diminished and a small squeeze occurred bringing the price above the 6,700 level where it has been consolidating for a few hours.
If btc cannot push thru 6800 over the weekend, and shorts begin to stack, we may see a drop back to 6,400 where heavy support is. We’re back above the consolidation triangle that it has been bouncing in since march/April.
Btc has been making higher lows since January, and consolidating at a higher price level after each dip indicating further support. A strong push thru 7,100 will face resistance at 7,400. If this occurs it will break the current downward trend for the last few months.
If long positions outweigh short positions, look for a heavy push thru resistance and a price increase of 500+.
This is my personal opinion, this is not investment advice, invest at your own risk and good luck trading
Btc current price 6,714
COMPLETED 7:26 LOS ANGELES