Cryptocurrency Trader Anticipates Imminent Bitcoin Short Squeeze, Offers Candid View on BTC Development

An esteemed cryptocurrency analyst with a substantial Twitter following predicts an upcoming Bitcoin (BTC) short squeeze.

The renowned trader, known by the pseudonym Inmortal, informs their 215,000 subscribers on platform X about an anticipated upturn in BTC value, potentially catching short sellers off-guard.

“The current chart suggests a short squeeze could happen soon.”

A sharp appreciation in asset prices prompts a short squeeze, compelling traders who had bet on price drops by short selling to buy back and close their positions at higher prices.

Through Inmortal’s technical analysis, a pattern of consecutive higher lows signals favorable conditions ahead for BTC.

“Impressive price action on lower time frames.

> A sequence of rising lows

> Deviation coupled with a Squeeze”

Without referencing charts, the crypto strategist shares their candid perspective on BTC.

“Personal take on BTC, no graphs.

> If we haven’t hit the bottom, it’s nearing.

(Success hinges not on price, but on TIMING—the crucial factor).

> Anticipate three phases; two have unfolded.

(initial surge and a summer pause) expect the second surge next, completing the third phase.

End of line.”

At the moment of reporting, BTC’s value stands at $58,512, with an over 7% increment observed over the past week.

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Disclaimer: The views at The Daily Hodl are not financial advice. Before engaging in high-risk investments with Bitcoin, cryptocurrencies, or digital assets, conduct thorough research. It’s important to be aware that all trading and transfers are at your personal risk, with any possible losses being your responsibility. The Daily Hodl does not endorse the purchase or sale of cryptocurrencies or digital assets and is not an investment advisor. The Daily Hodl engages in affiliate marketing activities.

Artificial Image: Midjourney
Primary Image: Shutterstock/Konstantin Faraktinov