Bitcoin Reversal: Anticipating Upswing, Potential Short Squeeze?
My current insights on the
BTCUSD
market:
BTCUSD
market: - The 0.618 Fib is once again acting as support, signaling strength from the bulls. A short squeeze might happen soon, as it aligns with 'max pain' scenario.
- If this support level doesn't hold, we might see a dip towards
36K
, marked as the 0.786 Fib.
Weekly chart suggests this possibility, although i'm leaning more towards an upward trend now.
- The 3-day chart touched the lower Bollinger Bands, and the candles display elongated wicks, suggesting buying activity and a potential reversal point.
- The 12-hour chart displays a MACD crossover and RSI in oversold territory, supporting my bullish outlook.
- Closing the weekly candle above $41,331 would be a significant and powerful move for
BTC
, highlighting the strength of the bulls 💪