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Home»Analysis»Crypto Trader Says Bitcoin Short Squeeze Is Imminent, Shares ‘Honest’ Opinion on BTC Progress
Analysis

Crypto Trader Says Bitcoin Short Squeeze Is Imminent, Shares ‘Honest’ Opinion on BTC Progress

2024-09-13No Comments2 Mins Read
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A crypto trader with hundreds of thousands of followers says a short squeeze in Bitcoin (BTC) is coming.

Pseudonymous crypto analyst Inmortal tells their 215,000 followers on the social media platform

“The chart looks like a short squeeze is imminent.”

Source: Inmortal/X

A short squeeze occurs when a sharp increase in the price of an asset forces traders who had previously sold short to close their positions. Short selling means selling borrowed shares of a stock in the expectation that the price will fall.

According to Inmortal’s Price Analysis (PA), consecutive higher lows mean smooth sailing ahead for BTC.

“Beautiful PA in short time frames.

> Consecutive higher lows

> Deviation + Squeeze”

Source: Inmortal/X

Changing their approach, the analyst offers their ‘honest thoughts’ on BTC, without a chart.

“My honest thoughts on BTC, no chart.

> If the bottom is not in, it is very close.

(It’s not about what price, it’s about WHEN, it’s all about timing).

> 3 phases. So far you have experienced 2.

(first stage up and summer break) The second stage up is the next, third phase.

That’s all.”

BTC is worth $58,512 at the time of writing. The flagship crypto is up more than 7% in the past seven days.

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Generated image: Midjourney
Featured image: Shutterstock/Konstantin Faraktinov



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See also  Analyst predicts up to 200% rally for Bitcoin, says that long -term holders have started 'officially' collecting BTC
Bitcoin BTC Crypto Honest Imminent Opinion progress Shares Short Squeeze trader
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