2 min

Bitcoin is going to show short squeeze!

Last time I saw a lot of bearish mood that the Bitcoin is going to reach $10-12k.

Hello, everyone!

Last time I saw a lot of bearish mood that the Bitcoin is going to reach $10-12k. I suppose that we will not see these levels. $15-17k is the minimal target for this bear market. But the price now is pumping because of there are a lot of short traders, which have to be liquidated before the dump.

Let’s take a look at the 4h timeframe of the BTCUSDT chart on the WhiteBit exchange. The price broke through the strong level to collect the stop losses of short traders. I was surprised that pump was not stopped at $19900, but it’s ok, there were no any trades. Just observe the market. I tried to guess which wave now is happening on the market. Globally I consider wave 5. More locally – wave 3 inside wave 5. Wave 1 of this wave 3 have been already finished. The current boring flat looks like the the wave 2 which is represented as the ABCDE triangle correction. I think this pump can continue a little bit more to 0.618 Fibonacci level. After the I am waiting for the wave 3 inside wave 3 which will be very soon.

Best regards, Ivan

Trade on WhiteBIT! Use this link to register and receive 40% of trading commissions from your invited users!

Trade easy with Smart tools

Utilize AI-enhanced SmartBot for automated decisions and SmartTrade terminal for tailored manual trades, all in one integrated platform.

Similar blog posts

Hello, Skyrexians! Let’s make an update on AVAX the coin with the most clear Elliott waves structure. We have some changes since our last update. Let’s take a look at

Hello, Skyrexians! We had some doubts in this scenario, but now price action clarified it. Dominance has finally decided to pump in the wave 5 and this wave can be

Hello, Skyrexians! Yesterday we pointed out that Ethereum has not finished the global correction and is waiting for crush, today we found the same pattern for DOGE . We still

Hello, Skyrexians! Recently we have already told that potentially ETH has been finished the correction and is ready to reach $7-10k, but today we recalculated waves and can tell that

Hello, Skyrexians! It’s time to update SUI idea. Last time we pointed out that wave 3 has been finished and correction incoming. Now we are seeing this correction. Today we

Hello, Skyrexians! In the era of memecoins when everyone is talking about PEPE, DOGE and HMSTR we have the quite meme W which is now at the very low prices