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Bitcoin Bears At Risk of Short Squeeze Unless Prices Continue Lower
Bitcoin futures remain under pressure following a steep two-week sell-off from record highs. Yet, despite growing bearish positioning, the market continues to hold key technical levels near the 200-day EMA — setting up a potential battleground between bears seeking continuation and those wary of a short squeeze. A couple of weeks ago, I noted the triple top on the Bitcoin futures weekly chart. When combined with steadily declining volume and a multi-month bearish RSI divergence, it reeks of a market top. And when we consider that it has only fallen 18% over the past two weeks—compared with the two prior ... (full story)
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