Bitcoin Market Analysis

in #bitcoin • 2 years ago

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⚪️TECHNICAL (4H)

A bit of short term bullish momentum is starting to build up for BTC around $55,000, level towards we can see a slow but consistent grind in price action. Considering that we're about to enter our weekend trading session, we're being cautions with a possible spike in volume and chop.

⚪️SENTIMENT

Sentiment has leveled off once again in the short term, however in higher time frames we can still see a very negative outlook on the overall market.

This combined with the fact that short positions have increased dramatically, points towards a very likely short squeeze in the next weeks.

#cryptocurrency #crypto #blockchain #btc #eth #bnb #analysis
2 years ago in #bitcoin by
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