Has the bull come?
$BTC broke through $69,000 overnight, reaching the largest single-day increase since March. The U.S. Treasury and the Federal Reserve jointly released liquidity, alongside public support from senior figures in the political sphere, triggering liquidations of more than $1.4 billion in short positions across the web. COIN and other related concept stocks also surged in tandem.
The move is driven by short-squeeze dynamics, mainly trading by swings: if it breaks above the $69k–$70k range, you can go long accordingly; if it faces rejection and pulls back, watch the $65k–$66k support zone for a short, and use the most recent high/low points for strict stop-loss.
There are clear disagreements in the industry: some traders believe it’s only a temporary short squeeze, and prefer to place sell orders on rallies; but the mainstream view warns against blindly shorting. If the $60k–$62k bottom is established, the next 2–3 years are likely to be led by the bulls—suggest holding spot assets in line with the trend.
#btc
$BTC broke through $69,000 overnight, reaching the largest single-day increase since March. The U.S. Treasury and the Federal Reserve jointly released liquidity, alongside public support from senior figures in the political sphere, triggering liquidations of more than $1.4 billion in short positions across the web. COIN and other related concept stocks also surged in tandem.
The move is driven by short-squeeze dynamics, mainly trading by swings: if it breaks above the $69k–$70k range, you can go long accordingly; if it faces rejection and pulls back, watch the $65k–$66k support zone for a short, and use the most recent high/low points for strict stop-loss.
There are clear disagreements in the industry: some traders believe it’s only a temporary short squeeze, and prefer to place sell orders on rallies; but the mainstream view warns against blindly shorting. If the $60k–$62k bottom is established, the next 2–3 years are likely to be led by the bulls—suggest holding spot assets in line with the trend.
#btc