Short squeeze
Btc might be loading a big short squeeze.
Btc is breaking the rsi descending line, if we get a close above the descending line. This could trigger a nice dump and set the next leg up for a bullflag.
Watch out for fake outs, there are a lot of wicks and those could act as resistance.
First target 8.4k
Second target 8.6k
And if this triggers a big short squeeze 9.1k maybe even a bid higher.
This range also has a lot of potential to be the top if the last pump to 8.8k was an fake out/ shake out.
If you want to help me out
Leave a like and follow me :)
I am trading on bitmex, I like it there cause of funding rates in your trades and the leverage you could use. Also I like how the site is set up
bitmex.com/register/Ci1A3v
Btc is breaking the rsi descending line, if we get a close above the descending line. This could trigger a nice dump and set the next leg up for a bullflag.
Watch out for fake outs, there are a lot of wicks and those could act as resistance.
First target 8.4k
Second target 8.6k
And if this triggers a big short squeeze 9.1k maybe even a bid higher.
This range also has a lot of potential to be the top if the last pump to 8.8k was an fake out/ shake out.
If you want to help me out
Leave a like and follow me :)
I am trading on bitmex, I like it there cause of funding rates in your trades and the leverage you could use. Also I like how the site is set up
bitmex.com/register/Ci1A3v
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