🔥 ICP At Serious Risk Of A Short-Squeeze
Updated
A couple of weeks ago I talked about ICP, the break out through the bear market resistance and the short-squeeze potential that this token has.
Seeing that Bitcoin has been falling over the last two days and ICP achieving great gains, I think there's an increasing potential for a short-squeeze to occur in the future.
I'm sure that most of you know by now what a short-squeeze is after the whole GME thing, but it's basically short's which have to buy back in (close their shorts) because the price keeps going up.
Seeing that ICP is one of the most shorted coins in the market, there might still be a lot of shorts that have to close their position at some point in the future. This could trigger some kind of short-squeeze.
The near term targets from my previous analysis are still in play. However, I've added a short-squeeze target of $23 to my ICP outlook.
Not sure if we're going to get it, but when we do, be prepared for some crazy price action.
Seeing that Bitcoin has been falling over the last two days and ICP achieving great gains, I think there's an increasing potential for a short-squeeze to occur in the future.
I'm sure that most of you know by now what a short-squeeze is after the whole GME thing, but it's basically short's which have to buy back in (close their shorts) because the price keeps going up.
Seeing that ICP is one of the most shorted coins in the market, there might still be a lot of shorts that have to close their position at some point in the future. This could trigger some kind of short-squeeze.
The near term targets from my previous analysis are still in play. However, I've added a short-squeeze target of $23 to my ICP outlook.
Not sure if we're going to get it, but when we do, be prepared for some crazy price action.
Note
See below for my targets in the short-term.Note
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