One Reason To Long BTC (short term)
BTCUSDSHORTS are at an all-time high currently (blue line). As shown in the graph, the last time shorts were at ATH, Bitcoin produced a rather large move up in a short time frame. Also, notice the similarities in the rounded bottoming out process in April and now. My personal opinion is this we'll see a spike up to at least right around the trend line in the short term (days, not weeks) as some of the shorts cover.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.